Annuities: ABI launch new ‘Annuity window’

iStock_000016457256_ExtraSmallThe Association of British Insurers (ABI), which represents many Annuity providers, has launched a new service designed to encourage would-be retirees to shop around for the best Annuity rate. The ABI’s specimen Annuity rate tables , which forms part of the wider Retirement Choices Code, are not designed to be best buy tables or even an Annuity calculator, but to highlight the options retirees have and the need to shop around for the right Annuity for their own individual circumstances. Not enough shopping around Over ...

Annuities: how much does each option you choose affect your income?

Most of us know that when you buy an Annuity you have to make a few choices. Should the income be paid monthly or yearly? What guarantee period do you include? Do you include a spouse’s pension? How much would you like your spouse get on your death? These are just some of the decisions you will need to take. As a rule the more options you add to your Annuity, the lower the starting income will be, but just how much difference does each option make? We thought we would take a look. Costs v Benefits The three most popular benefits ...

Bank Holiday boredom? 5 financial jobs to tackle

The plethora of Bank Holidays coming up over the next few weeks will hopefully give you the chance to a bit of 'R & R'. However, it could also be an excellent time to tackle a few financial jobs that you may have been putting off for a while. We thought we'd help you along with five things you could take a look at over the longe weekends ahead. 1. Review your savings So many people are getting a poor rate of interest on their savings; did you shop about for the best rate a few months or even years ago and then do ...

6 Common Annuity mistakes

Whether you are thinking about buying an Annuity now or indeed do not need to make a decision about which Annuity to purchase for a little while to come, we thought it would be useful to highlight the six mistakes most commonly made when it comes to this all important decision. 1. Not using the Open Market Option This is probably the most common mistake, made by nearly two thirds of people (Source: Pension Income Choices Association). The facts are simple, you may well get a significantly better income from your Annuity if you shop about. If you don’t check you will never know, ...