Many retirees and pre-retirees have annuities that were purchased years ago, often under very different economic conditions and with different features than those available today. As the annuity marketplace evolves, newer contracts may offer improved benefits, lower fees, and terms that are more competitive. Staying in an old annuity without a periodic review could mean missing out on better growth potential, updated guarantees, or useful features that fit your current retirement needs. Additionally, your income goals and comfort with risk may have shifted as you’ve moved closer to or further into retirement, so what was once a good fit may not be meeting your needs anymore.