We all put things off
We've created this page for those who would like to read a bit about annuities before they're called. We recognise that some folks might prefer to familiarise themselves with annuities before a consultant phones.
A little nudge
We suggest you complete the form below straight away and then read the information on this page in the time before your call.
Of course your consultant will explain annuities (and, if appropriate, income drawdown as well) to you, that's their job, but a little understanding before the chat can speed up the process!
Open Market Option
MANY PEOPLE MAKE A BIG MISTAKEIt is important to note that once an annuity has been purchased it cannot be changed. The Open Market Option allows you to shop around for options to convert your pension fund into an annuity. So rather than just taking the rate offered by your own pension fund provider you can now choose the best annuity scheme that suits you.
Many retirees don't use the Open Market Option. They are often unaware of the benefits of doing so or either don't realise they have an option at all. You could be missing out on up to 40% more income for your retirement.
Benefit of Open Market Option
YOU CAN NOW SHOP AROUND FOR A HIGHER INCOMEYou may possibly get more from an annuity if you shop around. Also, you may qualify for what is known as an Enhanced Annuity (also known sometimes as an Impaired Life Annuity). This can pay a higher income to people who suffer from a range of health conditions - for instance asthma or heart problems. Smokers can often get a better income as well with a smokers annuity.
We will explain the different retirement options available. Read more about Open Market Option.