Annuity sales jump as retirees ‘tempted’ by guaranteed incomes

Annuity rates give retirees a guaranteed income (Lucy North/PA) - (PA Archive)

Sales of retirement annuities, which give pensioners a guaranteed income, have jumped, according to figures from the City regulator.

Purchases of retirement annuities increased by 13.2% to reach 100,144 in the year ending March 31, up from 88,430 in the previous year, the Financial Conduct Authority (FCA) said.