Best male single life level annuity rates and inflation-linked annuities remained largely stable for this month according to Alexander Forbes Annuity Bureau.

Figures have shown that Aviva has kept its single life rates stable at £5,590 per annum and L&G maintained its rates at £5,420 per annum. However, Canada Life increased its rates from £5,135 to £5,341.56.

With regards to RPI linked annuities, L&G were static at £3040 and Prudential also decided to not reduce or increase its rates. Smokers rates also remained stable for four of the top five providers.

Alexander Forbes Annuity Bureau head Gemma Goodman said: “The rates are closely linked to gilt yields and it’s likely that the market is awaiting the next move on inflation, before deciding which way pricing will next move.

“Overall we expect the long-term trend to remain downwards. In the medium to long term it is possible that we may see an increase in annuity rates. The rationale for this is that whilst global markets recover you will see further investment in equities and less investment in fixed interest securities such as gilts.”

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