Among current retirees, annuities account for only an average of 4% of household income. That’s the finding of a new study of annuity use among retirees and near retirees just released by LIMRA, the Connecticut-based financial industry research organization.
The LIMRA study found that 35% of retirees receive some amount of income from an annuity in retirement, but the majority of these people are so far relying primarily on pensions and social security checks to meet daily and monthly expenses, according to Jafor Iqbal, associate managing director of LIMRA Retirement Research.
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