Rates paid on annuities sold through banks dropped sharply in August, to an average of 5.05%.

It was the second consecutive monthly decline. The average was 5.13% in July and 5.17% in June.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.