Make sure you get the best UK annuity rates for 2010 as you search for a bigger retirement income and a better pension annuity. When you come to retire, most people opt for buying a pension annuity, which is a guaranteed monthly income payable till you die, which can sometimes be linked to guaranteed increases each year, or, indeed, linked to inflation. If you go for a pension annuity, you can probably get yourself a hike in retirement income of around 20%, or maybe even more. simply by shopping around. Check out some basic quotes (your quote will depend on your age, your gender, any habits (such as smoking), your state of health and any options you choose for your annuity).
You might get £7,500 per year in retirement income if you have a £100,000 pension fund to cash in, but only if you bother to shop around for the best UK annuity rates. If you don’t shop around properly, your pension provider may offer you somewhere around £6,000. That’s £1,500 less each year and, if you live twenty years in retirement, that’s £30,000 lost. A simple search will help you find annuity websites where you can compare annuity rates, like this. However, do ensure that you consider alternatives to pensions and annuities for your retirement income, as your circumstances might just be better suited to something else.