Best Annuity Rates
It’s important you get the best annuity rates at retirement. Getting the best annuity rates could result in you being many thousands of pounds better off over the course of your retirement.
Pension annuities
There are a range of pension annuities to choose from. For example, a conventional annuity could be right for you if you’re in good health, whereas an enhanced annuity could be appropriate if you suffer from certain medical or lifestyle conditions.
If buying an annuity is right for you, how do you go about getting the best deal? You can either:
- buy your annuity from the pension provider you have saved with,
- buy your annuity directly from an insurance company, or
- buy your annuity through an annuity service such as this.
This latter option is best for you. It is the only option that compares annuity rates from different annuity providers to find you the best deal. After all, no single company is best for all scenarios.
Consider buying an annuity to be similar to renewing your car insurance, with the need to shop around. With car insurance you’re looking for the cheapest premium, whereas with an annuity you’re looking for the best annuity rate – and the highest retirement income.
Annuity rates
Using your open market option, you can get the best annuity rates. You can choose to get a quote and buy your annuity from any annuity provider. You don’t have to take your annuity from the provider of your current pension plan – there are better deals and you’ll get better annuity rates elsewhere.
The amount of retirement income you’ll receive depends on a number of factors. The most important ones are: the amount you have in your pension fund to buy your annuity with, your age, your gender, annuity rates, where you live, your lifestyle, and your state of health.
The options you select for your annuity – for example, will the annuity income increase in payment, or will it continue to be paid to your dependants should you die – can have an effect on the income you receive.
Annuity options
Buying an annuity is an important decision with long term financial consequences, and you need to try and ensure you’re getting the right annuity and the right annuity options; basically the best deal for your circumstances.
You may think that buying an annuity from a well known insurance company is the right thing to do, but reputation doesn’t pay your bills. If we can get you more retirement income, and better annuity options, possibly from a company you might not know, it could well be right for you, and could result in you getting thousands of pounds more income over the course of your time in retirement.
Which pension
If you want more information on which pension contract is right for you when you come to retire, please contact us and speak to one of our advisers. Alternatively, the FSA publish useful information on their website. This information is updated regularly, and you can research comparisons between level incomes and increasing incomes, as well as other details. The website is a useful source of information. However, use it as a guide only.
To obtain your free, no obligation annuity quotes you can enquire online, or call us free on 0800 0124 374. One quick free phone call from you can make all the difference. We’re here Monday to Friday, 9 am to 6 pm.
