Retiring this year? Then get the best UK pension annuity rates in 2010. Many people assume that they have to buy a pension annuity from their existing pension company who runs their pension plan. However, this is not the case, as you have the right to shop around for the best annuity rates when you retire utilising the open market option (OMO). Worryingly, recent figures from the Association of British Insurers (ABI) show that 61% of people buying an annuity in 2007 did not shop around as they should have.
There are significant differences between the level pension annuity rates offered by different annuity providers, basically underlining the fact that you should use the OMO. Discouragingly, a recent survey showed that 2/3rds of people buy their annuities from the same company with whom they built up their pension, and that many people are unaware that they have the right to shop around to find the best annuity rates. This OMO facility really can make a significant difference to the level of annuity income you receive and therefore your lifestyle in retirement.
You can shop around and obtain annuity quotations from all of the leading providers yourself, which will prove a time consuming exercise. Alternatively you can ask a pension annuity specialist to do this on your behalf. Please complete our enquiry form and we will obtain a free quotation for you based on the highest rates we can find for you. Buying an annuity is one of the most important decisions you will ever make as it determines the level of annuity income you will receive for the rest of your life, and you need to find the best UK annuity rates.
It is therefore crucial that you obtain the best level of income from your hard earned pension fund to ensure you enjoy the highest quality of life possible in retirement. Whether you have already decided which annuity you want or you require advice on the most appropriate one, or indeed if an alternative would be more beneficial, we can help you. So, choose the best option and shop around for the best pension annuity rates utilising the OMO and don’t just accept what your existing pension company offers.