Sales of annuities surged more than a fifth during the first three months of the year to reach their highest level for eight years.

Inheritance tax receipts for the current tax year to-date have reached a record £5.3bn, according to the latest figures published by HMRC.

Total lending to homeowners over 55 via equity release grew by 24% year-on-year in 2021, according to the Equity Release Council.

Insurance firm Phoenix Group has acquired a portfolio of £300m equity release mortgages from Just Retirement Limited, part of the Just Group.