Sales of annuities in the first half of 2023 surpassed their highest levels since the introduction of pension freedoms, according to new research by Canada Life UK.
Canada Life UK has reported report record-breaking annuity sales as demand for income products rise. The insurer said in its half year results published today (21 August) new business sales for individual annuities were £441m in 2023, compared to £220m in the same period in 2022.
Sales of annuities in the first half of 2023 surpassed their highest levels since the introduction of pension freedoms, according to new research by Canada Life.