Subdued annuity sales rebound 10% in Sept - research

Jenna Towler
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Demand for annuities climbed 10.5% in September despite tumbling rates, analysis from IRESS has found.

The firm's latest At Retirement Report analysed data from more than 150,000 advised sales and found demand for single life annuity products was up just over 10% in September compared to August. It said while demand remains subdued following the Budget changes announced in March sales have increased 14% since the market's trough in June. However, overall sales remain down just over 47% on an annual basis. Average retirement incomes have also climbed, the analysis found. Data showed the average single life annuity secured an income of £3,810 per year in September, up by 4.6% compared to...

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