Demand for drawdown offsets 50% drop in Hargreaves annuity business

clock

Greater demand for drawdown has helped compensate for significant losses in annuity broking business at Hargreaves Lansdown.

Annuity income dropped from £7.7m to £4.7m for the year to 30 June, compared to a 35% surge in new assets into drawdown. The firm attributed this trend to the Budget reforms. Chief executive Ian...

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 Industry

Cost of poorly informed pension transfers up 42%, with £1.7bn lost

Cost of poorly informed pension transfers up 42%, with £1.7bn lost

People’s Pension finds 42% more lost from poorly informed decisions since previous year

Jasmine Urquhart
clock 10 September 2025 • 2 min read
SPP writes Pension Schemes Bill amendment to abolish PPF administration levy

SPP writes Pension Schemes Bill amendment to abolish PPF administration levy

Organisation says legislative change is needed to abolish ‘unnecessary’ levy

Holly Roach
clock 10 September 2025 • 1 min read
Hymans Robertson finds 'stark evidence' of growing pensions inadequacy

Hymans Robertson finds 'stark evidence' of growing pensions inadequacy

DC members risk more from unpredictable longevity and volatility

Jasmine Urquhart
clock 10 September 2025 • 1 min read
Trustpilot