GET MORE FOR YOUR ANNUITY

You would think that most people would want to obtain the best with their pension money. However, many retirees often fail to take advantage of the best rates through apathy - preferring to continue using their existing pension provider for the annuity, rather than obtaining a better offer elsewhere which they are free to do. Under the open market option you can, in most cases, take out an annuity with a provider other than the one administering your pension pot and get better value.

Annuity rates change frequently but by choosing the most competitive provider at retirement it is indeed possible to increase your income by up to 40% more each year. Remember once you have bought your annuity it is normally set for a lifetime so it is important to get it right at the start!

Not only should you consider which provider to use to obtain the highest rate, but also what it is you want:

1/ A Single or Joint Life Annuity?

2/ Level or Escalating?

3/ A Guarantee Period of Payment?

4/ No Guarantee?

5/ Tax Free Cash or No Tax Free Cash?

6/ Are you an Impaired Life e.g. a Smoker?

7/ With Profits

8/ Short Term Annuity to Age 75?

All of the above will affect the rate of income you can receive. Opt for unnecessary benefits, or miss out on an impaired life enhancement and you could reduce your income for life!

We are experts and are therefore able to provide independent advice on obtaining the best results for your pension fund. For help and advice complete the brief questionnaire or use the hyperlink to our On Line Services.