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Time to give annuities another chance?

In Brief: Time to give annuities another chance?

Tuesday, 01 August 2023

Nearly one million pre-retirees considering annuities

Pre-retirees, aged over 55 and still in work, are considering annuities for the first time in preparation for their retirement, according to new research[1]. Nearly one million (990,000) people fall under this category[2]. Of these, 16% are thinking of the product due to improved rates against the backdrop of rising living costs. This is in addition to the 828,000 (14%) of working over-55s who had always planned to purchase an annuity in their retirement[3].

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