Annuity Enquiries Double at UK’s Largest Retirement Income BrokerAnnuity Enquiries Double at UK’s Largest Retirement Income Broker /wp-content/uploads/2016/02/retirement-line-office-1024x602.jpg 1024 602 Gravitate Digital Gravitate Digital /wp-content/uploads/2016/02/retirement-line-office-1024x602.jpg
Annuity experts Retirement Line have seen a dramatic rise in enquiries over the past 12 months, following the introduction of pensions freedom last April.
Announced during the 2015 budget – this new change in the tax rules, applying only to private pensions, means that anyone aged 55 and over can take their entire pension pot as a tax free lump sum, affording clients much greater choice and flexibility in their retirement.
As a result, Retirement Line have noted a 50% increase in new business and have already started to increase their workforce with the addition of several new sales agents.
This year’s figures contrast dramatically with those produced immediately following the Government’s announcement of pension changes in 2014, which saw the company take a 50% cut both in sales revenue and staff numbers.
Retirement Line CEO David Slater said: ‘’I am delighted with the progress we have made. Surviving these severe financial pressures has led to our business becoming stronger in many areas. It has also brought out the very best in a number of our staff who have been rewarded with promotion to senior positions within our business.”
Profits are now expected to match pre-budget figures by close of 2016.
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