Up until the 28th January this website offered you the chance to get online annuity quotes. However, after weeks of agonising we decided that the annuity rates provided were not precise enough, and arguably misleading because not enough questions were being asked, leading to the wrong annuities being put forward.

These days annuity quotes are done on more of an individual basis, and there are various factors to be considered, and it is not just about your age and the size of your pension fund. There is much more to it than that and further questions need to be answered to get you the best annuity rates for your circumstances.

Factors such as the state of your health need to be taken into account, and this is where big differences can come in. Depending on the severity of any ill health can qualify you for enhanced annuity rates. If you are really ill you could get a lot more in your annuity payments, but even if you only have a mild medical condition you could benefit.

Being a regular smoker can also effect the annuity rates you get, as can where you live.

In addition to the above there are other factors: whether you are married, whether you want an inflation proof annuity income, and even whether you have any other assets or income that can be taken into account.

The message is simple: getting the best value you can from your pension fund is crucial, even if it means more paperwork. You really do need to maximise your retirement income, either from a pension annuity or from one of the other pension options available to you. Proper advice is key to a better retirement income.

As far as this website is concerned, provide your details to our partner to this website, Origen, and they can search the whole market for the best annuity rates for you, as well as looking at suitable alternatives. 

We try our best to keep you updated on changes in the pensions and annuities market through this website, as the growing number of ‘annuity news’ items testifies. This time it’s about annuity rates, and follows concerns that annuity rates might follow short-term interest rates in a sharp decline.

The bad news is that, predictably, annuity rates are sliding. They are down around 8% since their high point last summer, on the back of falling yields on the corporate bond instruments and gilts that insurance companies use to pay pension annuity income.

And, it is likely that annuity rates will drop further this year as yields continue to come under pressure. However, current rates still offer pretty good value, being around 7% higher than three years ago.

As annuities are written on more of an individual basis these days there is more scope for people to get increased annuity rates for the likes off ill health.

Smokers, and those with other lifestyle conditions, can also expect increased annuity rates via what is know as enhanced annuities, so all is not lost. 

Friends Provident, a UK life and pension company, offering annuities (to their own customers) amongst their portfolio of products, have seen new business levels fall 27% last year, compared to £751m in 2007. Their total life and pensions income also fell, down 11% to £1,005m APE lat year, from £1,135m in 2007.

These results come as Friends Provident readjusted to its new focus on key areas of business such as group pensions, and also its’ international arm.

Levels of individual pensions business fell because of the withdrawal of products offering initial commission early in 2008. Protection business for the 2008 fell 24% from 2007 levels to £52m on the back of the increasingly weak housing market.

Friends Provident has admitted that its critical illness terms were less competitive than many other providers, with life and critical illness business falling 27% to around £35m. 

Their savings and investments and annuities business saw no sales at all in terms of regular premiums in Q4 last year. On a 12-month basis regular premium income in savings and investments fell 50% to £0.7m, while new business in pension annuities remained at zero.

They have stated that levels of savings and investment business remain, should we say, modest. They are continuing to focus on providing annuities for their pensions customers as they reach retirement (not that this is as good for their customers as shopping around for better annuity quotes and the best annuity rates using the open market option). 

Friends Provident expect a short-term impact from a reduction in the volumes of new business ahead of an actual planned reduction in acquisition expenses in the UK, which will act to reduce their margins for 2008 compared to 2007.

We have been exonerated. We changed the annuity quote procedure on this website yesterday from ‘online’ to ‘provide us’ with details, as seen now on the new annuity quote page.

What happens? The first enquiry after the change is from a gentleman with a chronic heart condition. Sadly, a pretty good example of ill health.

However, if he had filled in the old ‘online’ facility he would not have been able to tell us about this. Now he can, and he has, and we have time on our side to find him the enhanced annuity rates I am sure he is entitled to in time for his retirement later this year.

So, if you suffer from ill health, which might qualify you for enhanced annuity rates, via the likes of an impaired life annuity or an enhanced annuity contract, please provide your details.

I am quite sure our partner, Origen, can find you the best annuity rates.

I am pleased to report that this website is now one of the larger websites offering information on pension annuities, annuity quotes, annuity rates, and other pension options. The amount of information contained in it now is quite vast, easily comparable to the likes of the annuity bureau and other annuity supermarkets.

We have changed a couple of things recently. The online annuity quotation facility has gone, because it wasn’t comprehensive enough. These days annuity rates are now calculated on quite a range of factors and therefore our new annuity quote offering means you have to tell us more about yourself and your circumstances to get an annuity quote. It is no longer ‘online’, and we feel this is better for you.

These changes are certainly an improvement if you suffer from ill health and possibly qualify for enhanced annuity rates.

Other annuity based websites contain rate tables, as does the FSA website, but these are pretty poor really, and don’t take into account the many factors that matter. So, to get the best from us and Origen, you have to communicate with us. Rest assured, we won’t let you down.