Annuities: 7 unusual ways to qualify for an Enhanced Annuity

iStock_000012131139XSmallIf you are approaching retirement and looking to turn your pension pot into an income, there’s a fair chance you will be joining the thousands of other people each year who buy an Annuity. Once you have rejected other retirement income options, such as Income Drawdown, it’s then a case of making sure you select the right Annuity options, spouse’s pension, guarantee periods and so on, and search for the best rate. One of the ways to improve your Annuity ...

Annuities: 12 things you will have to do yourself if you don’t use an IFA to arrange your Annuity

iStock_000016864850XSmallIf you are approaching retirement and considering how to turn your pension pot into an income, one of the main routes open to you is an Annuity. Whilst most people focus on getting the best Annuity rate, this is only part of the story; there is much more to this decision than meets the eye. Let’s start with the basics, how can you buy an Annuity? There are three ways:...

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, ...