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September 30, 2009, Featured Articles, Regulations/Legal , Annuities
Shunned in U.S., Income Annuities Thrive in the U.K.
The "at retirement" market for annuities in the U.K. topped £14 billion in 2008 and is expected to reach about £23 billion in five years.
In sharp contrast to financial behavior in the U.S., hundreds of thousands of people in the United Kingdom convert their tax-deferred savings into income annuities as soon as they retire, according to a report from Watson Wyatt, the global consulting firm.
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