Standard Life says UK annuity rates hit 7.75%, highest since 2008
Reuters2026/07/31 12:22- Standard Life flagged July 2026 annuity rates at an 18-year high, with the average for a healthy 65-year-old at 7.75%.
- The rate rose from 7.66% in April, lifting expected annual income on a GBP 100,000 pension pot to GBP 7,750.
- Head of Annuities Pete Cowell said the higher rates shorten the payback period to about 13 years versus about 20 years at 5% in 2020.
- Cowell said guaranteed income can anchor core living costs, with drawdown used alongside it to balance certainty with flexibility.
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