Site Index
Annuity RatesYou could be up to 30% better off, or even more, by getting the right annuity rates. Click here for to see if you might be eligible for higher annuity rates.
Annuity OptionsYou can add various options to your annuity to match with your personal circumstances. Click here for details of the options that might apply to you.
Annuity TypesIt’s very important that you select the right annuity for your requirements. Click here for details of the various annuities available.
Annuity Purchase
How should you proceed when you have decided to go ahead and purchase your annuity? The first rule is that once you’ve made up your mind, you should act quickly.
Why act quickly when buying your annuity?
Time delays can cost you lost annuity income
You should act quickly because any time you delay is a time when you could be receiving an income from your annuity. A delay of two or three months, for example, could result in you missing out on hundreds or thousands of pounds of income over that period, depending on the amount of the annuity payments.
Changing annuity rates
In addition to the time delay issue, annuity rates do change on a regular basis. The rate you have been quoted is not guaranteed until your chosen annuity provider receive the pension fund monies from your existing pension provider, therefore any reductions in rates in the meantime might reduce your annuity income.
How long will your annuity take to set up?
It’s down to your existing pension provider
The time it takes to set up your selected annuity will depend upon the efficiency, or otherwise, of your existing pension provider and how quickly they transfer your pension fund to your chosen annuity provider. Your annuity might take up to 6 to 8 weeks to complete, although many annuities do complete quicker than this. As part of our administration process we will speak to your current pension provider on a regular basis to ensure everything is being done as quickly as it can be.
How do you apply for your annuity?
A simple process
When you are happy to go ahead and buy your annuity, and you’ve made your choice, the first thing to do is to contact AEGON Direct. You can call them free on 0800 169 1256, and they can provide you with all the necessary documentation. Then you need to send back the completed application form, and any other forms, for your selected annuity from the information pack we send you.
Naturally, if you’re not sure which of the various annuity types are best suited to your requirements you can always take a look at the annuity guide page.