Annuity rates are changing all the time. With an ageing population and the need to fund an income throughout ever increasing periods, annuity rates have dropped significantly over the past 30 years. Finding the right annuity can substantially increase the level of income you receive. To ensure you do not lock yourself into a rate, only later to find you could have got a better deal elsewhere, it is important to do your research. By requesting a quote from us we can do all the research for you. We will take details of your personal circumstances and desired options and speak to all the providers, in order to find you the best solution for your annuity rate. Do not accept the first offer from your pension provider. There can be up to a 40% difference between your initial quote and one which can be found by using the open market option. Using the Open Market Option to get the best annuity rate is being pushed by the FSA so that all retirees have access to the best possible annuity rates on the market.
Our service is FREE – simply fill in the quote request to the left and we’ll talk to the providers on your behalf to ensure you get the best annuity rate. A personal approach with advice is essential to get the best possible annuity rate from all the providers on the open market. Advice is not an expensive option and its always best to have a quote with advice to see how it compares to any quotes you may have been offered without advice.
There are many standard rate tables which can be viewed in the Sunday papers which give estimates based on standard ages, smoker rates and fund size. These, however, do not take into consideration your personal circumstances. There has been a significant increase in the last few years of people taking up Enhanced Annuities, where medical history and lifestyle choices can increase the level of income you receive. It is only through peoples’ awareness and education on these matters that these numbers have risen. There are many people who could have qualified when they took their annuities, but because they either took no advice or were unaware, they have locked themselves into incomes lower than those to which they were entitled.
Speak to one of our specialists to find out if you quality for an increased income.
Some factors which may affect the rate you receive
- Male or female
- Age
- Smoker
- Fund size
- Height and weight
- Medical history
- Even your postcode
Every provider will have a demographic to which they provide a more favourable income. Some may have favourable rates for smokers; other may offer more attractive rates to those fit and healthy over age 70. Listed below are some of the providers we use and we will ask them all to quote to ensure we find the best deal to suit your circumstances
Friends Provident, Aviva, Abbey Life, Standard Life, AEGON, AXA, Canada Life, Co-operative, Just Retirement, LV= , Partnership, MGM Advantage, Phoenix Group, Legal & General, Hodge
