Annuity sales plunge 40% after pensions 'seismic shift'

Jenna Towler
clock •

Annuity sales have dropped 43.8% year on year as retirees wait for pension freedoms to begin in April 2015, according to latest research.

IRESS analysed data from more than 150,000 advised annuity cases and discovered demand for single life annuity products dropped by just under 5% in June compared to May. In total, it said, 43.8% fe...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Pensions minister calls for 'acceleration of progress' on UK growth investment

Pensions minister calls for 'acceleration of progress' on UK growth investment

Torsten Bell says Mansion House pledge date of 2030 is ‘practically tomorrow’

Jonathan Stapleton
clock 01 October 2026 • 3 min read
Dame Susan Langley: How pensions can support greater investment in UK private markets

Dame Susan Langley: How pensions can support greater investment in UK private markets

Lady Mayor of the City of London says every link in the pensions chain has a role to play

Dame Susan Langley
clock 01 October 2026 • 4 min read
Our retirement roadmap no longer reflects how people live

Our retirement roadmap no longer reflects how people live

Emily Shipp and Catherine Sermon says the industry can offer a better route on retirement planning

Emily Shipp and Catherine Sermon
clock 01 October 2026 • 4 min read
Trustpilot