It goes without saying that you are likely to be reading this because you have recognised the need to maximise your annuity rate or simply achieve the most from your pension. The need for advice has become ever more apparent in the retirement market. For example we are seeing;
- High inflation rates
- Falling Gilt rates
- Increased life expectancy
These factors on their own are bad news but unfortunately they have all raised their ugly heads together and created the perfect pension storm.
Added to all of this is the Bank of England’s quantitative easing policy, with its impact on gilts likely to cut conventional annuity rates even further. All of these factors are affecting income rates not just for annuities but also for drawdown plans in the years ahead.
In essence their is no easy answer to help resolve this but it does mean that seeking advice at retirement is paramount if you are to understand exactly what your options are and thereby minimise the impact of all of these factors. Always seek independent advice when you are looking to retire.
