Three reasons an Annuity might be the right choice and how to get the best rate

Annuities were never the most popular of options for retirees. Often seen as inflexible and poor value, many were bought begrudgingly by people who thought they had no other option. Since Pension Freedom was introduced, the number of Annuities being bought has dropped significantly. Figures from Retirement Advantage show that around 180,000 have been bought over the past two years. Despite a fall in popularity, there are still many reasons why an Annuity might be the right way of turning your pension into an income: 1.You want a guaranteed income, which ...

Retirement: Do Annuities still have a part to play?

Yes or no decisionAnnuities have had a tough time over recent years. The general dislike of this particular financial product, can probably be traced back to a time when anyone turning 75 had to buy one. Even though this rule changed many years ago, falling Annuity rates, potential miss-selling and political rhetoric (remember George Osborne’s Budget speech in 2014) have done nothing to improve the image of this most humble of financial products. Finally, of course, we have the introduction of Pensions Freedom, designed to deliver more flexibility in retirement; a word ...

Retirement: 8 Annuity myths exposed

Hand drawing Myths or Facts arrows concept with marker on transparent wipe board. Over the past few years Annuities have received a bad press and to be honest, much of the criticism was fair. When George Osborne stood up and delivered his Pension Freedom Budget in 2014, many people predicted the end of Annuities. However, since then two things have happened: Annuities are still a popular option. In fact, latest figures show more people are choosing to use an Annuity when they retire than the main alternative; Income Drawdown Many Annuity providers ...

60,000 people use Pension Freedoms – 8 pitfalls to look out for if you plan to join them

60,000 people use Pension Freedoms - 8 pitfalls to look out for if you plan to join themThe Chancellor, George Osborne, recently told the House of Commons that 60,000 people have withdrawn more than £1 billion from their pensions since new freedoms were introduced in April. Whilst Mr Osborne said that the figures showed Pension Freedoms has been a "success” he went on to say, "…but we have to make sure that people get the best advice…" presumably to stop them making mistakes and falling into some of the pitfalls which ...