5.8% wage growth brings personal allowance into focus for pensioners ahead of the Spring Statement

As it stands, from April 2026 people could pay tax on the state pension alone Further inflation-busting state pension rise would feed affordability debate Mike Ambery, Retirement Savings Director at Standard Life, part of Phoenix Group said: “This April the full new state pension will rise to £11,973 per year, 95% of the personal allowance – a welcome boost for …

Retirement Professionals5.8% wage growth brings personal allowance into focus for pensioners ahead of the Spring Statement

Exclusive: M&G re-enters annuity market

The provider exited the annuity market in 2017 but is now selling a fixed-term product to advisers. M&G has re-entered the annuity market eight years after it stopped selling the retirement products, Citywire can reveal. The provider is launching a fixed-term annuity term product (between five to 15 years) for advisers’ clients, with a minimum lump-sum investment of £10,000. The launch …

Retirement ProfessionalsExclusive: M&G re-enters annuity market

Annuity sales reach 10-year high

Market forces combine to create an attractive environment for annuity sales. Annuity sales have reached a 10-year high and rose 24% from 2023 to 2024.  Research from the Association of British Insurers shows that 89,600 pension annuity contracts were sold last year, representing a 24% increase on 2023. The total value of those sales, £7bn, also jumped from the year …

Retirement ProfessionalsAnnuity sales reach 10-year high

Annuity sales soar to £7bn in 2024 with more retirees taking advice

More joint life and inflation-linked policies purchased Total annuity sales reached £7bn in 2004, an increase of 34% year-on-year, according to latest data from the Association of British Insurers (ABI). Some 89,600 annuity contracts were written in 2024 surpassing last year’s total and reaching a new ten-year high, the body said. The ABI’s data also showed more annuity purchases occurred …

Retirement ProfessionalsAnnuity sales soar to £7bn in 2024 with more retirees taking advice

HL, Quilter and AJ Bell CEOs urge Reeves to reconsider IHT on pensions

The chancellor, Rachel Reeves, announced at the Budget last October that some pensions will be liable to inheritance tax upon death from April 2027. The CEOs of four of the UK’s biggest providers have written to the chancellor urging her to rethink the government’s ‘flawed and damaging’ policy of levying inheritance tax (IHT) on pensions from 2027, Citywire New Model …

Retirement Professionals HL, Quilter and AJ Bell CEOs urge Reeves to reconsider IHT on pensions

Autumn Budget 24: Inherited pensions to face IHT from 2027

Autumn Budget 24: Inherited pensions to face IHT from 2027 Impacting wealth transfer efficiency and legacy planning Pensions passed on will be subject to inheritance tax (IHT) from 2027, Rachel Reeves has confirmed in today’s (30 October) Budget. Pensions are currently exempt from IHT and not classed as part of an estate when someone passes away. “We will close the …

Retirement ProfessionalsAutumn Budget 24: Inherited pensions to face IHT from 2027