Sales of annuities have grown by more than a fifth (22%) during the first three months of 2023 according to data from the Association of British Insurers (ABI).
Stephen Lowe, Just Group
Annuity rates are linked to interest rates and the rapid rise in sales is mirrored by the increase in interest rates over the past few months. Big money Between January and March 2023, 16,256 annuities were purchased, the largest number recorded since 17,252 were sold between July and September 2019.Annuity premiums for the quarter totalled £1.2 billion, another highest value since 2015 when the pensions freedoms were introduced.Pension […]
Full Post at www.pensions-expert.com