IHT pensions changes expected to drive 'strong interest' in annuities

"With the imposition of inheritance tax on pensions from 2027 announced in the Autumn Budget, I expect we'll continue to see very strong interest in the annuities market as people look to secure other ways of passing on more to their loved ones," said Scottish Widows managing director, retirement Emma Watkins. Annuities had already been surging in popularity before the 30 October Autumn Budget. Association of British Insurer (ABI) figures show 59% growth year-on-year between Q1 2023 and Q1 2024. Watkins attributed the rise to rate improvements and people having "increasingly valued th...