 |
|
 |  |  |  |
The retirement income market continues to change as more savers are waiting to make a decision. The number of drawdown contracts sold by ABI members is slightly lower than last quarter but has more than doubled compared to Q4 2013, with a reduced average pot size. The value of drawdown contracts sold by ABI members is over 50% that of the value of annuity sales, compared to around 20% a year ago. |
The number of annuities sold fell by 28% on the last quarter, and by 64% compared to Q4 2013. The percentage fall in the number of annuities sold is greater than the percentage fall in the value of annuities, suggesting that more people with smaller pension pots are deferring or taking cash.
Internal annuity sales have fallen by 54% compared with same quarter a year ago, and sales of external annuities have fallen even further. This means that there are now a greater proportion of internal annuities (62%). This compares with 52% during the same quarter in 2013.
Rob Yuille - Manager, Retirement Policy, ABI comments:
"These figures show savers with larger pension pots continuing to buy annuities, while others are entering drawdown with smaller funds than in the past. More people are clearly taking cash, but many are still making an active choice to buy an annuity with a small pot. This reflects the diverse needs and preferences of the population and is a reminder that savers should not be pigeon-holed or told their choices are wrong, but need advice or guidance to help them find the right solution for them."
To view the statistics in full click document below
 |
|
|
|
| Senior Portfolio Analyst | ||
| London - £70,000 Per Annum | ||
| Reserving Actuary | ||
| London - £100,000 Per Annum | ||
| Senior Pricing Actuary - Personal Lines | ||
| London - £130,000 Per Annum | ||
| Senior Manager | ||
| London - £150,000 Per Annum | ||
| Pricing Actuary - Longevity Swaps | ||
| London/hybrid 2-3dpw office-based - Negotiable | ||
| Senior Reinsurance Pricing Actuary | ||
| London - £200,000 Per Annum | ||
| London Market Reserving Actuary | ||
| London / 4dpw office-based - Negotiable | ||
| GI Senior Actuarial Consultant - Inte... | ||
| Zurich - Negotiable | ||
| P&C Senior Manager | ||
| London - Negotiable | ||
| Senior Reserving Analyst | ||
| London / hybrid 3 dpw office-based - Negotiable | ||
| Deputy Head of Pricing | ||
| London - £150,000 Per Annum | ||
| BPA Implementation Analyst | ||
| North-West / hybrid 2-3dpw office-based - Negotiable | ||
| Pricing Actuary – London Market | ||
| London / Hybrid - Negotiable | ||
| Pricing & Underwriting Analyst | ||
| London / Hybrid - Negotiable | ||
| BPA Transition Manager | ||
| South East - Negotiable | ||
| Modelling Actuary - Life | ||
| South East - Negotiable | ||
| Reporting Actuary - Life | ||
| South East - Negotiable | ||
| London Market Pricing Manager | ||
| London - Negotiable | ||
| London Market Pricing - FTC | ||
| London - Negotiable | ||
| Senior Pensions Data Technician - Ful... | ||
| Fully remote - Negotiable | ||
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.
Copyright © 2025 Actuarial Post. Created by Zero-One Design Ltd
