Annuities Plan - Uncover the Differences

Open Market Option Comparisons for Pension Income

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The Difference Between The Best And Worst Pension Incomes Can Be Very Surprising


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Looking for an alternative to an annuity? Visit Annuity Answers.

1 - Do Not Fail to Claim What is Rightfully Yours

Many retirees ignore a much bigger income

Understanding pension annuities

Many retirees fail to exercise their right to choose their annuity using the open market option (more about the open market option below). We help ensure that you don't fall into the same trap.

But first, what is a pension annuity?

An annuity is an arrangement where you make a lump sum investment and, from this investment, you receive a guaranteed level of income. Most annuities are bought using funds held in pension schemes.

An annuity is payable for the rest of your life, although it's possible to select a fixed period if purchasing an annuity with cash rather than pension funds.

If you would like to take your income on a more flexible basis we can look at a fixed term annuity this allows you to access your funds under the flexible drawdown rules. This product is a guaranteed product there is no investment risk you can select the term to take your income, over this term you can select the level of income required which would be paid in equal instalments.

If you elect to erode your fund over the term there will be no balance available on maturity it would be your responsibility to ensure that you have an income in retirement, if you do not erode your fund you will have a guaranteed maturity value.

With the guaranteed maturity value you will have all of your options available to you again, you can at this stage purchase a lifetime annuity, take another fixed term annuity or take as a lump sum subject to income tax.

2 - Enhanced Annuities / Impaired Annuities

It's estimated that 60% of people could qualify for an enhanced annuity

Understanding enhanced annuities

You could be eligible for an enhanced annuity if:
- You smoke
- You have high blood pressure
- You have asthma
- You have high cholesterol
- You are obese
- You have ever taken prescription medicine
- You have ever been hospitalised for a medical condition
- You are in advanced years

So if you're of advanced age, a smoker or are in poor health (or have been in poor health), you may be able to increase your pension income.

We will:
1. Check if you are eligible for an enhanced annuity that could increase your income

2. Search the whole of the market for you so you are more able to make a decision

3. Give you access to more flexible options including fixed term annuities and income drawdown, should you wish

Please complete the confidential enquiry form and see the surprising differences between one pension income and another.

Your enquiry is free.

3 - The Open Market Option for Buying Annuities

Why the open market option is good for you

Why you HAVE to compare pension annuities

Under the government initiative called the 'Open Market Option' you can transfer your pension fund to any annuity provider, not just your current pension fund provider.

1000s retire every week in the UK. Many of them still don't use the Open Market Option because they either don't realise they can or are simply unaware of the benefits.

4 - Take Advantage of a Higher Pension Income

Make sure you make the correct choice

Compare the top pension annuity providers

When your pension fund reaches maturity, your pension provider will advise you of the fund value, and general information about annuities and the level of income you would receive.

You're then allowed to transfer the fund value to another provider of your choice. A higher income may be available from a different provider.

5 - Compare And Choose From The Whole Of The Market

Exercise your right to choose

Compare the Options

There are a wide range of options which can be selected when choosing a scheme, it is wise to compare products from the whole of the market.

Our quick contact form on the right will put you in touch with your own retirement options specialist (not a call centre). A home visit isn't necessary.

There's no charge for us investigating your policy and you're under no obligation to follow any recommendations that are made. Your annuity specialist is registered with the Financial Conduct Authority (FCA).

Figures show that you can make a SIGNIFICANT difference to your yearly income if you shop around.

Please visit Annuity Answers if your fund is under £30,000.

6 - Make Contact (Free, No-Obligation Enquiry)

Take action now and uncover the differences

Receive a FREE Pension Annuities Comparison Quote

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