Below you'll find a list of all posts that have been tagged as “Retirement Income”
Applications could take 14 fewer days to process Legal & General (L&G) has launched a digital application process for annuity applications which it says could trim a fortnight off the time it takes an average case to complete. The provider said it had launched the digital process with a select number of firms and would roll it out in the …
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 …
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 …
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 …
