Wrong pension annuities cost £53m
Those people reaching retirement are missing out on nearly £53 million of retirement income every year by choosing the wrong pension annuity provider and failing to plan ahead. The difference between the best and worst annuity rates from conventional annuity providers can be as much as 27%, which can see retirees receiving £6,000 per year as compared with a potential £7,620. Over the typical retirement period this equates to £25,920 or more.
If you are close to retiring you really need to make sure you explore all opportunities available in order to make the most of your money. There is more to retirement than leaving work and it is vital to plan ahead to get the best suited solution for your retirement income.
