Looking through some Best Buy annuities online, it seems if you buy an annuity at 60 instead of 65 (with the same size pension pot), you get about 12-15% less per annum (index-linked, Mrs gets some if you croak etc). Very rough and ready, but does anyone know if that's what 'actuarially fair' might actually mean?
I'm interested in all this because I'm PA in to 55, hoping to be able to go on to 60, but Manning wouldn't offer it last year because I'm too young (45). Was hoping that 60 was the new 'lifer' age…
von K