News release: Adviser webcast spotlights fixed-term and enhanced annuities

18 November 2025

The latest episode in a series of financial adviser-focused webcasts includes a look at the role of fixed-term annuities, and the potential that underwriting creates for more lifetime income.

“Reimagining Annuities with Trends and Innovations” is episode two of The Retirement Exchange from BNY Investments. 

The episode features guest expert Mark Ormston of leading annuity broker Retirement Line, in conversation with Richard Parkin of BNY Investments. Over 30 minutes, the discussion explores how advisers can respond to the sustained improvement in annuity rates seen over recent years. 

The conversation looks at the potential of fixed-term annuities as an alternative to traditional lifetime products. Mark gives the example of a client aged around 60 who buys a five-year fixed-term annuity to support a transition into retirement. A strategy like this could enable the client to reduce working hours until the State Pension becomes payable.

For clients choosing a lifetime annuity, Mark stresses the importance of comprehensive health and lifestyle underwriting to secure the best possible rate. Retirement Line’s experience shows that their clients typically receive an annuity rate uplift of 10–12% on average once full medical and lifestyle details are provided, with some achieving significantly higher increases. 

Other topics discussed include the use of blended decumulation strategies. The example given is of advisers helping clients secure guaranteed income for essential spending through an annuity, with remaining savings kept invested to provide the flexibility of access as needed.

Looking ahead, Richard Parkin suggests that annuities might play a greater role in the future as savers increasingly rely primarily on defined contribution pensions. Without the underlying security of defined benefit income, he believes more retirees may prioritise the certainty that annuities can provide.

The episode also touches on the potential impact of targeted support on annuity advice, as well as the increasing competition and innovation expected within the annuity market.

Underpinning the episode is the significant increase in annuity rates over the past two years or so. Also, there has been growth in pension savers shopping around for the best annuity rates and income, with around 60% now looking beyond their existing pension scheme for an annuity. 

Advisers and other UK financial professionals can access the episode on demand here.

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Press enquiries:

Mark Ormston 

Phone: 01733 307216     

mark.ormston@retirementline.co.uk 

Notes to editors:

Retirement Line is the UK’s largest specialist pensions annuity intermediary* offering guidance and support to help retirees secure the best income available from the UK’s leading annuity providers. Based in Peterborough, the company is authorised and regulated by the Financial Conduct Authority.