Rising gilt yields - impact on pensions? Annuities, defined contribution

The disaster of this chancellor has an obscure benefit for tomorrow’s pensioners. As it costs more to borrow money on the markets, insurance companies can get more income from your pension savings. In turn it means they pass this on to you when you buy an income for the rest of your life in the form of an annuity, if that’s what you choose to do. Just when you think Reeves is the Winter fuel snatcher she gives you a lucky bonus through her own incompetence. You couldn’t write this stuff.