What should you expect from our service?
In short; more income in retirement. We search the whole of the annuity market for you, taking in to account your age health and circumstances.
Simply fill in the form on the right to find out how much more income you could receive in retirement.
“…thank you for helping me sort out the pension, it left me to think about my life”
Best Annuity Rates
When it comes to buying an Annuity, it is unlikely that your pension provider, the company that you saved up your pension with, will give you the best rate for your Annuity. Often, the companies who are ‘good’ at investing your money for you, aren’t interested in providing a lifetime income, it’s simply not their core business, so it’s best for you to look elsewhere.
In 99 / 100 cases - you can improve your retirement income, without taking risks with your money, just by shopping around, to ensure you buy the Annuity which is best for you. In technical terms, this is known as the “open market option”. The open market option is just the facility to move your pension fund from your existing provider at the last minute before you draw your pension. You move it to another provider, one that ‘wants’ Annuity business and quotes competitive rates.
Buying the right annuity really matters because you can’t change it afterwards, you can’t change to a different type of annuity, you can’t change the way it pays out and once the capital from the pension fund has been spent on an annuity, you can’t get your money back. Here are some of the choices you’ll need to think about:-
- Do you want your pension income to remain the same for the rest of your life?
- Do you want your pension income to keep pace with the cost of living?
- Do you want your pension income to increase, regardless of the cost of living?
- Do you want your spouse or dependents to benefit from the pension after your death?
Let’s consider two options to illustrate how the income you receive from an annuity can vary depending on your choices.
- A 65 year old man who is a non-smoker and enjoys good health, he opts for a level annuity (one which pays out the same amount year on year). Currently (Oct 2012) he would expect to receive £5,529.60 per year until he dies. Remember the buying power of the money will decrease over time.
- The same 65 year old male non-smoker in good health, this time he opts for an annuity which rises with the cost of living and pays his wife 50% of his income if he dies first. Currently (Oct 2012) he would expect to receive £2,878.80 per year, which would increase with the cost of living.
Clearly the decisions you make now will have an effect on your standard of living for the rest of your life. fill in the form to the right to see how much more income you could get from your Annuity.