Pension Annuities Sales Continue to Climb

The results of the research carried out by the Insured Retirement Institute (IRI) and Beacon Research suggest that sales of fixed index annuity are still on the rise.
As such, the sales in the 4th quarter of 2009 amounted to $7.6 billion, marking a 3.2% increase over the 3rd quarter. The Insured Retirement Institute and Beacon Research also found out the year-on-year decrease constituted a mere 2% as total fixed annuity sales reached $105.1 billion in 2009. Commenting on the findings, Mr. Alexander of Beacon Research claimed that the strong demand for secure retirement and investment alternatives boosted the sales of pension annuities last year. The slight decline, in his opinion, can be explained by financial difficulties and other pressures that consumers faced in the year of 2009.
The Insured Retirement Institute said it plans to further cooperate with Beacon Research and to publish more works dedicated to analysis of the pension annuities sector in the near future.