Annuities are provided by insurance companies. The company that you choose promises to pay you a regular secure income in exchange for your pension fund, no matter how long you live. However, because the income is fixed it is important to choose your options carefully, as once it is set up you cannot change your mind.
Is this you?
- Retiring shortly and need to know the options I have.
- I need someone to compare the best Pension Annuities available.
- I have poor health and have heard I can get a higher Pension Annuity
The Open Market Option – It is vital that this is considered
Even though you may have paid into the same pension for years, you rarely have to take your pension annuity with that company. Most pensions offer you an Open Market Option. This allows you to move the pension to another provider who will give you a higher pension income if this is the case. Often your existing pension provider is not offering you the best Pension Annuity.
The differences in income that an Annuity provider will offer you can vary dramatically. In addition, depending on your health, you may also be able to get an enhanced/higher Pension Annuity. This is where we come in.
We will research the market and draw comparisons between providers to establish whether there is company who will offer you a higher regular income that your current pension provider.
For an alternative to an annuity see Flexible Access Drawdown or Income Drawdown
Whether you are retiring shortly or in the next couple of years, please contact us for an initial discussion.