Annuities

Many people look to the US and Australia as models of DC best practice. However, are we right to follow their lead when it comes to decumulation? Helen Morrissey takes a closer look.

Greater demand for drawdown has helped compensate for significant losses in annuity broking business at Hargreaves Lansdown.

Pension Insurance Corporation (PIC) increased its operating profit by 200% in the first half of the year following a string of new bulk annuity contracts.

Growth in bulk annuity sales at Partnership Assurance has helped compensate for a 43% fall in individual annuity sales, according to the firm's half-year results.

Strong bulk annuity sales have helped plug losses incurred in Prudential's individual annuity business, its half-year results show.

Aviva will do more mid-sized bulk annuity deals with companies over the remainder of the year after more than doubling its bulk business.

Legal & General (L&G) has seen record growth in its annuity business following increase in demand for bulk annuities, according to the group's half yearly report.

Enhanced annuity sales in the UK dropped by a third in the wake of this year's budget, which announced a major overhaul of the retirement process, according to research.

Annuity margins at insurer Standard Life were down 59% in the first half of the year due to the sweeping changes to retirement income announced in the Budget, latest results show.

Annuity sales have dropped 43.8% year on year as retirees wait for pension freedoms to begin in April 2015, according to latest research.