Standard Life Sees Over-75 Annuity Quotes Jump to 5.5% as Average Premiums Top £100,000
Updated
Updated · IFA Magazine · Jun 22
Standard Life Sees Over-75 Annuity Quotes Jump to 5.5% as Average Premiums Top £100,000
2 articles · Updated · IFA Magazine · Jun 22
Summary
Over-75 customers accounted for 5.5% of Standard Life annuity quotes year-to-date in 2026, up from 1.3% in 2024, while the average premium rose 14% year on year to more than £100,000.
Standard Life said demand is being driven by historically strong annuity rates and guaranteed income, with pensions’ inclusion in inheritance tax from April 2027 pushing wealthier clients to rethink leaving pension pots untouched.
Quotes above £1 million have more than doubled since 2024, reflecting advisers’ use of annuities to shrink taxable estates while preserving payouts through options such as spousal benefits or value protection.
An estimated 10,500 estates will newly face inheritance tax and about 38,500 will pay more under the rule change, helping explain why 39% of financial advisers expect annuities to gain popularity.
Standard Life also said a fully digital, signature-free application process and its whole-of-market Annuity Desk have supported the shift as retirement planning behavior changes.