Multi-decade high gilt yields, boosted by the ongoing US-Iran conflict and fears over inflation, have pushed some annuity rates to multi-year highs.

We can expect the robust growth of annuities in 2024 to continue this year, with another potentially record year for sales possible, according to industry commentators.

The guaranteed income offered by annuities means annuity-holders are more likely to report lower levels of stress and the highest level of financial confidence compared to those without one, according to a new study.

Annuity rates have increased by 8% for a healthy 65-year old over the last 12 months, according to new data.