Retirees flock to annuities as sales rise almost 40% year-on-year

FCA data finds annuity sales up 38.7% to 80,061 in 2023/24

Jenna Brown
clock • 2 min read
Hargreaves Lansdown head of retirement analysis Helen Morrissey
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Hargreaves Lansdown head of retirement analysis Helen Morrissey

Sales of annuities increased almost 40% in 2023/24 to 80,061, according to latest Financial Conduct Authority (FCA) statistics.

Data from its retirement income market data showed annuity sales were up 38.7% in 2023/24, up from 59,163 in 2022/23. More than 80% of these were level annuities and about 66% were bought on a s...

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Jenna Brown
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Jenna Brown

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