The proportion of savers buying an annuity at retirement has doubled over the past three years, Standard Life has revealed.
At the PLSA Annual Conference, Standard Life head of retirement proposition, Esther Hawley, quoted Standard Life’s recent findings that annuity rates have increased by 20 per cent in the year to June, and by almost 50 per cent since the start of 2022.
As a result, “we are absolutely seeing that come through in the amount of people who are buying annuities”, she said.“It is still quite a small proportion, we are starting from a small base, but three years ago […]
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