Retirement: If your Annuity adviser or broker doesn’t ask you these questions, it’s time for a change

Time to learn conceptual imageBuying an Annuity is a big decision; in fact it’s probably the largest single purchase you will ever make after buying your house. To add a little more danger or excitement, depending on your point of view, once you’ve bought a Lifetime Annuity it can never be changed. If you make a mistake, choose the wrong option, or don’t get the best Annuity rate, there’s nothing you can do ...

Annuities: Myths, misconceptions & mistakes

iStock_000016454287_ExtraSmallAnnuities have hit the headlines over the past few weeks and whilst the quality of journalism is usually pretty good, the same cannot always be said for readers’ comments which accompany online articles. We thought it would be fun to take some of these comments and expose the myths, misconceptions and mistakes we’ve found. “Annuities are not fit for purpose, avoid them like the plague.” One of the more hysterical comments we came across! There’s no denying rates have dropped over recent years, but an Annuity is ...

Retirement: Shopping around for an Annuity to become compulsory?

iStock_000015475220XSmallAn amendment to the Pensions Bill, could force every member automatically enrolled into a pension, to shop around for their Annuity when they retire. Over the next three years, every worker in the UK aged over 22 and earning more than £9,440 per year will be automatically enrolled into a pension, to which they and their employer must contribute. However, there has been criticism that too much focus has been on accumulating a pension fund and too little on the options at retirement. ...

Annuities: Why accepting the first offer could cost you thousands

iStock_000003051325_ExtraSmallNew research from Investment Sense shows our typical British reserve could be costing retirees thousands of pounds over the rest of their life. The benefit of shopping around and finding out whether you qualify for an Enhanced Annuity when you retire has been well documented. But if you want the very best Annuity income you or your adviser need to do more. Our research shows Annuity providers are routinely quoting lower incomes, only to increase significantly, often by thousands of pounds each year, ...