Go on, help yourself; compare the best UK pension annuity rates. Or perhaps it should be, get the best pension annuity rates for your retirement income. Emphasis on ‘help yourself, and ‘get’. Either way you put it, it really means the same thing, and that is that you really need to help yourself and should shop around as you approach retirement to find yourself the best annuity rates. There are undoubtedly people out there who can help, pension annuity specialists, but you’re going to have to locate them. I doubt they’ll be able to find you. And, when you do find a specialist you think you can work with, you really need to have an open and frank discussion about your particular circumstances if they are to help you properly.
The best pension annuity rates for your circumstances might, or might not, be that straightforward, and there are lots of different factors to consider; whereabouts you live, whether you are single or married, your occupation whilst at work, whether you are a regular smoker, your health, and various things like that. If you live around Glasgow you’ll probably get higher annuity rates than if you live in Surrey (although I’ve nothing against Glasgow; it’s just that statistically people around there don’t live as long). If you are married, you ought to consider taking out a joint life annuity which can provide an income to your wife or husband upon your premature death. If you have worked around asbestos, for example, you are likely to get higher rates than if you had worked in a sedantary job in an office. If you are a regular smoker you could get up to 30% more annuity income, and even more if you suffer from ill health. As I suggested, many things to consider.