Individual annuities - commission cap

From 28 May 2025, we'll be introducing a commission cap of £10,000 on all non-advised sales of individual annuities. The commission cap is being introduced to ensure that Aviva are acting on and delivering fair value.

What’s changing?

• Commission paid from the non-advised sale of a Pension Annuity or Immediate Life Annuity will be capped at £10,000.
• The excess commission will be used within the pricing of the customers policy which could result in an improved income on the annuity offered by Aviva.

Transitional arrangements

• For new quotes produced before we go live on 28 May 2025 the commission cap will not be applied, and Aviva will use the commission disclosed on the initial illustration.
• For new quotes produced on or after we go live on 28 May 2025 the commission cap will be applied.

Support

If you have any questions, please don’t hesitate to contact your Business Development Manager. Alternatively, you can find all our contact details here.