Income

‘The challenges facing today’s retirees are intensifying’

Applications could take 14 fewer days to process

Fixed term of between five and 15 years on £10,000 minimum lump sum

New business sales of annuities up 48%

Annuity rates see 70% increase compared to four years ago

But interest rate cuts coincide with quote volume dip in Q3 and Q4

More joint life and inflation-linked policies purchased

Dramatic spike in government borrowing costs

Yields on 30-year government gilts reach highest level since 1998

'Annuity sales could, and perhaps should, be higher'