Annuities

House of Lords written question – answered on 9th April 2014.

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Photo of Lord Lea of Crondall Lord Lea of Crondall Labour

To ask Her Majesty’s Government what percentage of annuities purchased over the last five years for which data are available were worth (1) between £500 and £2,000 per annum, (2) between £2,001 and £5,000 per annum, (3) between £5,001 and £10,000 per annum, and (4) between £10,000 and £20,000 per annum, in value at the point of purchase.

Photo of Lord Newby Lord Newby Lords Spokesperson (HM Treasury) (Whip), Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords)

There is no requirement for individuals to report the purchase of an annuity and the Government does not collect data on the number or purchase value of annuities. Industry data is collected and published by the Association of British Insurers and may be found on their website https://www.abi.org.uk/Insurance-and-savings/Industry-data/

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