Retirees are shifting from programmed withdrawal to annuities, prioritising the guaranteed lifetime payout they offer.
Retiree annuity hit a record high in uptake in the first quarter (Q1) 2025, surpassing programmed withdrawal for the first time since the Pension Reform of 2004.
The shift reflects that retirees are increasing prioritising long-term financial security through annuities, which align with rising life expectancy, according to industry experts.
The National Pension Commission (PenCom)’s Q1 2025 report of retirement options
Retirees are shifting from programmed withdrawal to annuities, prioritising the guaranteed lifetime payout they offer.
Retiree annuity hit a record high in uptake in the first quarter (Q1) 2025, surpassing programmed withdrawal for the first time since the Pension Reform of 2004.
The shift reflects that retirees are increasing prioritising long-term financial security through annuities, which align with rising life expectancy, according to industry experts.
The National Pension Commission (PenCom)’s Q1 2025 report of retirement options