Enhanced Annuity Product Update

Enhanced Annuity Product - Important Update

Irish Life launched the innovative enhanced annuity a number of years ago. However, customer take up has been very low and following a review of alternative customer outcomes, we plan to cease offering our enhanced annuity product to new customers from the end of 2022. This decision is largely driven by the low level of take-up and the challenges of keeping this complex product operational while sales volumes remain at this low level.

From the start of January 2023 you will not be able to run new enhanced quotes through www.pensionchoice.ie. We will of course honour pipeline business through the start of 2023. We will continue to offer our standard annuity product and the terms of this will be unaffected by this change.

If you have any questions in relation to this change please contact your account manager.