When you come to retirement and exchange you pension lump sum into an annuity or other retirement product it is important that you really understand what options are available to you. Under the open market option you are able to review the whole market and not just stick with your existing pension provider. By doing this you will not only get the best annuity rate but also the best product to suit your needs.
The key is understanding:
What you want?
Do you want a spouses pension to carry on when you die? Do you want to factor in some sort of guarantee?
What you are entitled to?
Do you qualify for an enhanced annuity rate as you are a smoker? Will your health affect the rate you receive?
What to choose?
How do you make sure you get the best rate? What product is best for your circumstances?
There are so many questions that need to be answered before you can choose the right retirement solution for you. Independent Annuity Advice will help you to understand what you need and how to get the best annuity rates.
An Independent Annuity Adviser will look at you circumstances and then get and compare annuity quotes from a wide range of annuity companies. By exploring such things as heath, lifestyle, family situation the annuity adviser can get a full understanding of your needs and get annuity quotes which match them.
Annuity quotes can differ by as much as 40%, this difference can be dependent on the information that you provide to the annuity company. Making sure your are clear about what information is important and what you are entitled to could make all he difference in getting the best annuity quote and maximising your income in retirement.
We can help you get independent annuity advice to make sure you make the right retirement decision. Contact us today; you only have one chance to buy an annuity.