Annuity sales plunge 40% after pensions 'seismic shift'
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% fewer...
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