HomeHow to decide on your annuity
Turning your pension fund to income can be a minefield; what type of annuity do you buy? Who is offering the best rate? Do I qualify for an Enhanced Annuity? All of these decisions are confusing enough but are made even harder in the knowledge that once you have purchased an Annuity, it can never be changed.
How we can help you with your annuity
As usual with Investment Sense, our objective is simple; we want to help you find the best pension annuity rate and make the right decision.
Our independent Annuity Comparison Calculator allows you to get and compare real time Annuity quotations specific to your age, health, lifestyle and postcode.
The rates shown are for Lifetime Annuities and include providers of Enhanced Annuities.
Please be aware that some providers do not make their rates available to our Annuity Calculator.
Get additional Annuity Quotes
Should you wish to receive additional quotes please contact us and we can request these from the providers who do not offer their quotes on the Annuity Comparison Calculator, this will ensure that you get the very best possible rate available.
More information on Annuities
With a retirement annuity you receive the security of a fixed income that you receive in the place of your pension, if you decide to sell it to an annuity provider. This type of exchange would happen after you retire and involves exchanging the sum saved in your retirement fund for an annual income; this income is then received instead.
If you have a personal pension your provider will usually offer you an annuity when you are coming close to retirement. At present, you do not have to get one as you can postpone getting one until you are 75 at which time you are required to obtain one by law, although this may change within the next few years.
Some annuities have added features that may appeal to your financial needs, for example inflation proof annuity and annuity that still pays your spouse after you die. Rates and annuity payments are likely to be competitive with a variety of different offers and funds so ensure you compare annuities in order to find the right one for you rather than just accepting the first offer from your pension provider.
