Below you'll find a list of all posts that have been tagged as “annuities”
Rates continue to remain ‘well above’ historic low levels Average annuity rates continued to rise in the third quarter of 2023 Q3, according to the Standard Life annuity rate tracker. The tracker, developed by Standard Life, part of Phoenix Group, monitors current average annuity rates across the market for those annuitising at ages 60, 65, and 70. It also shows …
First-half sales up 54% as higher interest rates boost annuity offering. Pension provider Just Group saw its best six months for annuity sales since the introduction of pension freedoms on the back of rising rates. Half-year results published this morning showed that in the first half of 2023, Just’s guaranteed income for life sales grew by 54% from £305m last …
Payback period on a benchmark £100,000 annuity today is 14.5 years Current record annuity rate levels have pulled the break-even point for holders closer by five years, latest statistics show. Canada Life yesterday (26 June) published figures which reconfirm the significant improvement in rates over the last 18 months. These improvements mean the payback period on a £100,000 benchmarked annuity …
Individual annuity sales jumped 22 per cent last year at Legal and General, latest results show. Bucking a wider market trend of falling sales since the pension freedoms, the insurer put part of the spike down to “increased intermediary presence”. FCA data shows annuity sales from October 2015 to March 2016 for those accessing their pots for the first time …
Standard Life has been fined £30.7 million by the Financial Conduct Authority (FCA) over failures in selling non-advised annuities. The regulator took action against Standard Life Assurance, now owned by closed-book pension provider Phoenix, over enhanced annuity sales between July 2008 and May 2016. ‘Standard Life Assurance failed to put in place adequate controls to monitor the quality of the …
Annuity specialist Retirement Advantage has been bought out by Canada Life for an undisclosed sum. Retirement Advantage, which also operates in the equity release market, has more than 30,000 customers and more than £2bn in assets under management. This includes a £1.5bn block of in-payment annuities. Canada Life UK executive vice-president and chief executive Doug Brown said: “Canada Life has …
