Retirement: When should you buy your Annuity? Now or wait?

With volatile stock markets and falling Annuity rates the timing of an Annuity purchase can be tricky. We thought we would take a look at the advantages and disadvantages of buying your Annuity now. Buying your Annuity now – Advantages Income now. This might sound pretty obvious but the main advantage of buying an Annuity now is that your income will start immediately. This is clearly important if you are finishing work and need to replace the income you will lose, it also helps to reduce the cost of delay, more of which later....

Buy now or later? When is the right time to buy your Annuity?

We are often asked when the right time to buy an Annuity is. As you approach retirement, more and more questions will pop into your head: Should I wait until I actually retire? Should I buy my Annuity now? If I wait will Annuity rates have fallen further? If I buy now will Annuity rates rise in the future? Will I pay more tax if I take my Annuity whilst I’m still working? It’s enough to confuse anyone so we thought we’d look at this in more depth and compare the pros and cons of buying your Annuity now or waiting until you actually retire....