Annuity incomes continue to rise ahead of interest rate decision

A 65-year-old with a £100,000 pension could have an annuity income of £6,782

Sahar Nazir
clock • 2 min read

Annuity incomes are continuing to rise, according to new data from Hargreaves Lansdown.

The next decision on interest rates later this week (11 May) could result in annuity incomes increasing even further in the coming weeks. The research by the firm suggested that a 65-year-old with a pension of £100,000 could generate an income of £6,782. Although annuity rates have drifted down from the heights experienced in the immediate aftermath of the Mini Budget last September, the rates remain 19% higher than this time last year.                 Head of retirement analysis Helen Morrissey said: "After drifting slowly down from their post mini-Budg...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

All change: Adjusting to life after the lifetime allowance

All change: Adjusting to life after the lifetime allowance

Despite initial confusion new system is 'surprisingly straightforward'

Susan Dalton
clock 03 June 2024 • 5 min read
LTA removal: Navigating policy intentions versus practice

LTA removal: Navigating policy intentions versus practice

'HMRC has acknowledged the faults' and will fix the issues

Josh Croft
clock 30 May 2024 • 2 min read
Our daughters deserve better! Closing the gender pension gap

Our daughters deserve better! Closing the gender pension gap

'Raising awareness, collaboration, and education, are key'

Susan Hope
clock 28 May 2024 • 4 min read