When the author of this article starts to refer to ” lifetime annuities ‘ he is on the right track for the greater majority of retirees or near retirees.
Life annuity income forever is what the crowd wants,especially after the 2008 debacle where retirement accounts had their clock cleaned for 50 % or more of the investment.These people want to be guaranteed that when they go the bank on the 1st of the month that $ X has been deposited in their account.That,s it! No equity-linked plan that means the cheque is less than expected or worse,no cheque at all.
Th government pension does not pay $ X this month and $ X-100 the next month;just the same boring, but extremely reliable, amount.
Life annuity payments should be just the same;boring but reliable.No surprises.