Annuity meltdown will eventually end

If you're younger than 55, you don't need to worry too much about the annuity meltdown. Rates should recover eventually. But it's a different story if you're older.

I was down the pub last week with two friends and the conversation turned to pensions. Both had reviewed their pensions recently and they were shocked to see how small an income they'd get if they were retiring in 2012.