The firm said “everybody needs to use the technology” after sales of annuities in the first half of 2023 surpassed their highest levels since the introduction of pension freedoms. “The increase in popularity of annuities is largely due to increased interest rates and yields, but also the demand for guaranteed income in these uncertain times,” retirement income director Nick Flynn said. “We view that this environment will continue for some period ahead, so we will increase and develop our teams to suit the economic environment. This scale up firmly supports the direction of travel for Canada Life.” The firm will focus on improving its business processes and requesting the client’s funds fr
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