On November 21, 2023, the American Council on Gift Annuities (ACGA) announced that it would be increasing its suggested maximum annuity rates, effective January 1, 2024. The new rates replace the rates that became effective January 1, 2023.

For most gift annuities, the new rates are approximately 0.4 percentage points higher than the old rates. If you defer the start of payments for a year or more, the increase is even greater. The higher annuity rates result in modestly lower charitable deductions. Higher annuity rates will make gift annuities more attractive to many donors seeking to make a gift and receive fixed payments for life.