If you’re about to retire, do you rely on RPI, CPI, or the best UK pension annuity rates. The Government last week announced it would link private sector pension increases to the consumer prices index (CPI). This move, which could slash £100bn from pension scheme liabilities, has been criticised by many as a stealth cut. Pension increases for private sector pension schemes are currently indexed in line with the Retail Prices Index (RPI). Linking instead to the CPI means lower pension increases in furure.

These increases, CPI or RPI, only effect those fortunate individuals in final salary arrangements. However, over time, it is probaby fair to say that many will complain about the cumulative loss of income. Naturally, if you’re not in one of these schemes and you’ve got a private pension plan, then you’ll have to rely on getting the best pension annuity rates at retirement. You could buy a RPI linked annuity, but the starting income will be very low.

An annuity is an income for life, so you need to get the best annuity rates. When you buy an annuity, you’re actually buying an income for life. So it’s important you shop around to find the best deal available. As annuity specialists, we take into account your individual circumstances, including your state of health. That’s why we could find you a better deal at retirement. It’s possible we could get you UP TO 30% more annuity income than you would get from your current pension provider.

We’ll offer you free annuity quotes, no obligation, and no fees, as well as the best annuity rates from some of the top UK annuity providers. We’ll also offer you expert unbiased advice you can depend on, and a specialist quotation facility if you have ill health and qualify for higher enhanced annuity rates. If you’re not keen on putting your personal details online, or you wish to talk to an annuity specialist, you can do this for free. You can call us on 0800 077 3510. Lines are open 8 until 8 weekdays, and 9 until 1 on Saturdays.

Just how you can achieve annuity rates up to 30% higher? First. Your current pension company won’t offer you the best annuity rates. You will find better annuity rates elsewhere. Secondly. If you suffer from ill health, if you’re overweight, if you smoke or drink regularly, or if you live in certain postcode areas you’ll probably be eligible for higher annuity rates, and the increase could actually be significant. Make sure you don’t miss out. We’ll compare annuity quotes for you to help you find you a better deal at retirement.

The government’s Budget changes to pension annuity rates age 75 rule could lead to pensioners being worse off, retirement experts have warned recently. Bob Bullivant, chief executive of Annuity Direct, and Andrew Megson, head of retirement for Partnership, hit out at the proposals that give people the option to defer having to buy an annuity at 75 and instead take out an unsecured pension, which allows an income to be taken from a pension fund while the remainder of the fund remains invested.

Mr Bullivant, who helped launch the Fair Unsecured Pensions campaign to urge financial advisers to put pressure upon the FSA and product providers to create a better and fair analysis of critical yields, warned that many retirees could be worse off under the new regime unless the risk they are taking is quantified and explained accurately. He said that retirees who choose an unsecured pension are essentially extending the risk element of their investment well into their retirement. The positive side of this is greater flexibility it has to be said, but people need to be aware of the dangers that are involved. This view was echoed by Andrew Megson, who added that the government should encourage retirees to shop around for the best pension annuity rates by making it a mandatory part of the approaching retirement process. 

Mr. Megson said that until now, we have seen two clear spikes of annuity rates purchase at age 60 and age 65. All other annuity transactions are spread out evenly between the ages of 55 and 75. The number of people who annuitise over the age of 70 is actually the smallest percentage of all annuity transactions, so scrapping the age 75 rule will only deliver benefits to a relatively small number of retirees. There is no way the cost of this change can deliver more than a limited benefit to a limited number of people, he concluded.

It’s disappointing, but not every retiree takes the best UK pension annuity rates at retirement. New chancellor George Osborne in his emergency Budget recently said the UK Government would review the requirement for retirement savers to have to buy an annuity by age 75; with an increase to 77 from next year. Those reaching retirement and considering their various options should remember that buying an annuity is something of a final decision: there is no turning back; you can’t change your mind.

An annuity is a lifelong contract between a retiree and an annuity provider. You exchange the pension savings you have accumulated during your working life for a certain income each month until you die, hopefully with the best pension annuity rates. If you want your spouse or partner to receive a pension if they outlive you, or if you would like your pension payment to rise each year to combat inflation, the starting figure will be lower.

Many people in their 60s do not buy an annuity at retirement for some very valid reasons. If you die a day after purchase, your beneficiaries do not have any claim to your remaining pension fund, this simply goes into the insurance company’s coffers. Therefore, if you want what is left in your pension fund to go to your children or charity after you and your spouse are gone, an annuity really isn’t an option for you. You could instead look at an unsecured pension, previously income drawdown. This is a much more flexible arrangement and deals with most of the objections to an annuity, including not having to rely on getting the best UK annuity rates. With this, you draw an income from your pension fund, within limits stipulated by the government, while your pension fund remains invested. another option is to pick and mix: you could convert part of your pension fund into an annuity, giving some security of income for life, while drawing a regular income from the remainder.out of your pension pot.

That’s right, 75% of retirees miss out on the best UK annuity rates, and 59% could qualify for enhanced annuity rates. More than three quarters of UK adults aged 55 and over are unaware that certain types of medical conditions could entitle them to a higher level of annuity income, according to new research from MGM Advantage. The findings show that millions of people at retirement are potentially missing out on a higher income in their retirement because they’re not taking advantage of the higher annuity rates that come with enhanced annuities. Worryingly, according to the findings, 59% of people aged 55 and over claim they have a medical condition that could qualify them for enhanced annuity rates.

Only one in four people are aware that they could get higher UK annuity rates when they retire if they suffer from certain medical conditions. Four fifths of UK adults over the age of 55 claim to have had a health check within the past twelve months and 65% claim to have had one within the past six months but people are not sharing their results with their annuity providers. MGM Advantage warns that people who don’t mention any underlying health issues could risk losing out as enhanced annuities pay out on average 24% more for men and 22.7% more for women.