Annuities offer the security of a guaranteed income for life, no matter how long you live, and sales have rebounded sharply as rising interest rates boost returns. But the trend is set to go into reverse.

The Bank of England cut interest rates from 5.25% to 5% on August 1 and may cut once or twice more this year. If it does, annuity rates will slide.

Experts are urging pensioners interested in buying an annuity to act sooner rather than later, to take advantage of today’s higher rates.

Today,…