Compare your annuity
Most people have heard of annuities in relation to pensions but what do they mean and how and why would you compare your annuity?
We will answer your questions below.
1. What is an annuity?
An annuity is just another retirement option. An annuity guarantees to pay you a regular, secure income for the rest of your life – no matter how long you live. It is a form of insurance and you need to buy an annuity with the money from your pension fund.
2. Why should I compare my annuity? Isn’t the one provided by my pension provider sufficient?
Most people think that they are obligated to buy an annuity from their current pension provider and yet that is not the case at all. Savvy investors are now realising that by shopping around, they can buy another annuity from a different pension provider that may be able to offer 30% more than their current annuity.
3. What if I have a number of pensions?
Not a problem. It may be better to group all of your pensions together because some pension and annuity providers will offer you a far superior annuity rate if you have a larger fund. However, you ned to get professional advice before making any decision regarding your pension and annuity options.
Enquire with us today and we will instruct our panel advisers to search the market for the best annuity for your specific needs.
Contact us below for a FREE no obligation quote
We are an independent review site and information portal for all things pension related. We do not offer advice nor or we qualified to do so - we simply provide and collate information that is already in the public domain. Before making any decisions regarding your pension, you should always seek advice from an appropriately qualified adviser.
