iPipeline has reported record annuity activity on its portal in the first half of 2025, with quote volumes rising 10% year-on-year despite falling interest rates.
The digital solutions provider said comparisons are now more than double the level seen in 2015, with activity increasing every year since 2020.
Its portal accounts for around 25% of all annuity quotes in the UK retirement market. iPipeline has monitored adviser comparison activity since 2013.
Paul Yates, product strategy director at iPipeline, said: “Annuities remain in high demand, even as interest rates have fallen.
“This resilience is likely driven by expectations of further rate cuts, prompting consumers to secure current rates, a growing number of retirees reassessing their income strategies, and increased recognition of annuities as a reliable way to protect against market volatility and longevity risk.
“The Retirement Review report we co-sponsored in May highlighted a knowledge gap – with 20% of consumers claiming they had never heard of annuities. Yet more than 37% were positive about the value annuities offer.”
Building on this momentum, iPipeline confirmed M&G and Aviva have joined Standard Life on its e-apply service, with Scottish Widows set to follow in September.
This brings the number of providers available through the digital application process to four.
Launched in April 2025, e-apply allows advisers to complete annuity applications fully online via iPipeline’s Assureweb Annuities portal.
Other providers remain available through the standard journey.
Greg Neall, chartered financial planner at Wake up your Wealth, said: “With interest rates returning to an historic normal range, it’s no surprise we’re seeing a return to the three-stage retirement journey: accumulation to your 60s, drawdown to your late 70s, and annuity after that. I’d bet the average age of quotations is rising too.
“Recent government policy also plays a role – annuities lend themselves to robust gifting strategies as part of normal expenditure out of income. Buy the annuity, set up a standing order, fill in IHT 403, and Bob’s your uncle.”
