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Archive for the ‘Pension Annuities’ Category
Friday, September 30th, 2011
An annuity is a popular investment vehicle that pays out money to investors (referred to as annuitants) in their retirement years. As the annuitant, you can choose to receive income every month, every three months, annually, or in a lump sum.
 A Primer to Fixed Annuities How much will the payout from your investment be? It will be a fixed sum based on the size of your investment, should you opt for a fixed annuity. So, how do fixed annuities work? Here’s a closer look.
Types of Fixed Income Annuities
Now that you know that a fixed income annuity assures you a set amount for a specified time period based on your investment, here’s a look at the different fixed annuity types you can opt for.
Broadly, you can choose between an immediate and a fixed annuity. In the former, as the name implies, you can fix the payout’s starting date anytime within a year or 13 months from the time of purchase.
Your annuity contract will mention the time period for which you will continue to receive the payout, and the size of the payout. You can opt for a guaranteed payment period over your lifetime (lifetime annuity), or even include another person (joint-survivor annuity) in the annuity plan.
A deferred annuity is one where you put-off the time from when you can start receiving the payout. Here, you can set up your account by making a lump-sum payment, invest in series over a time period, or do both.
Sometimes, this alternative may not be available with your annuity plan, but there is no doubting that combining periodic additions and one-time payment can help you in creating a bigger retirement source.
Besides these, there are other fixed annuity features, some of which may vary across the companies offering them. Some of these include refund annuity, instalment refund annuity, pure annuity, and temporary life annuity.
What are the Advantages of Fixed Annuities?
Probably one of the biggest advantages of a fixed annuity is that you are assured a fixed income for the specified time period. This works especially well in volatile economic and financial climates, where your market-linked investments may see dark days.
Then there are some like the index annuity, which pays you a minimum rate of interest in the event of a market downturn, and offers you a bonus during the years when the market is enjoying a good run. This is a good way of protecting your investment principle, whilst making the most of market upswings.
Another advantage of a fixed income annuity is that you can choose to receive payouts over your entire lifetime. When you opt for a lifetime annuity, you are guaranteed a fixed payout that you cannot outlive. This additional financial security in their twilight years can offers retirees much relief and peace of mind.
How to Shop for a Fixed Annuity
Once you are sure that a fixed annuity is ideal for your situation, shop for one when the rates of interest are at their peak. But avoid getting locked into a fixed annuity plan that merely offers a high interest rate while imposing inflexible terms and conditions. The idea is to strike a balance between the two, and avoid any unpleasant trade-offs.
Tags: annuities, pension Annuities, pension annuity, pension performance, pension plan advice, pension release
Posted in Pension Annuities
Monday, September 26th, 2011
A retirement annuity is a replacement for the regular income that will no longer be forthcoming once you retire. When you arrange to have a retirement annuity or pension annuity, you are actually setting up a source of funds that will take care of your everyday expenses during your retirement years.
 Get Expert Advice about retirement annuity Many people across the U.K. prefer to buy pension annuities with their accumulated pension savings because it gives them the assurance of having a regular ‘income’ for the rest of their lives. Another advantage of an annuity is that a regular fixed income like this one also makes it easier for the retiree to budget his monthly expenses so that he does not over spend.
If you have decided to opt for a pension annuity, then it is important for you to know how to choose the right one. Remember that the annuity may well become the main source of income for your entire retired life.
Paying necessary attention to details before you sign up for one and understanding the problems that could accompany it, will help you find the annuity that suits you best. Here are some ideas you can use to choose the perfect retirement annuity:
Shop Around for the Best Deals
One of the most important things to keep in mind when shopping for pension annuities is that not all of them are created equal. Often, with some research you can turn up a much better annuity than what your pension providers offer you.
That is why, experts advice that you should not sign up for the first annuity you are offered, especially without having looked at a few offered by other pension providers. Financial experts believe that by putting in enough effort in annuity shopping you could end up with one that is up to 25% more than what your provider may initially offer.
If you are not well versed with annuities and pension funds, then you could get some advice from a reputed IFA. An IFA works with your interests at heart and this means that he/ she will consider all your options and give you objective advice on what is best for you. In fact, it is also a good idea to ask your IFA for advice before choosing the kind of pension annuity you want to sign up for.
Know the Rules
Knowing the rules about annuities is important, especially if you have other sources of income and would like to postpone buying the annuity until a few years after your retire. You can postpone the annuity purchase until you reach the age of 75.
But the law regarding it is quite ambiguous and changes may be made to it periodically. If you hire an IFA, he can tell you whether any changes are being made to the law at any time. You can also keep yourself abreast of alterations to this law by following it on the news.
No matter how frugal you intend to be about your retirement lifestyle, the regular, assured income of an annuity will give you immense financial security and confidence. By weighing your options well and keeping yourself informed about them, you can purchase a retirement annuity that matches your needs best and is achievable, based on your accumulated pension fund.
Tagline: It is important for you to choose your retirement annuity with care so that you can enjoy a financially secure retired life.
Tags: advice, annuities, pension, pension Annuities, pension release, pension specialist, retirement
Posted in Pension Annuities
Friday, September 2nd, 2011
Pension annuities help you live your retired life in comfort without worrying about your financial health. It is important for you to ensure that you get the best possible deal where your annuity is concerned to ensure maximum financial freedom during the golden years.
 Advice about Pension Annuities This may not be an easy task because there are so many different options in the market for you to choose from. Here are some factors for you consider so that you make the right decision when you purchase your pension annuity.
The Importance of Comparison Shopping (Pension Annuities)
When it comes to purchasing a pension annuity, comparison shopping is very important. Most people simply opt for the first annuity offered by their pension providers because this is the least complex and least time consuming solution. However, this may well be the least beneficial solution for you as well. Here are a few reasons why:
- Most pension providers, especially insurance companies, try to promote their own products to potential pension annuity purchasers for the obvious reasons. The provider does not concern himself with whether the product is designed to match your lifestyle or your retired life expense levels.
- There may be other providers in the market who offer a bigger annuity in exchange for your pension fund. By taking such an annuity you have more income during your retirement which allows you to live in more comfort.
- You forgo the flexibility to choose the terms of the annuity such as payment periodicity if you limit yourself to the annuity products offered by your existing provider.
Clearly, comparing your existing provider’s annuity with other products in the market will tell you if you are getting the best deal possible with him. If not, you can simply choose to buy an annuity that meets your requirements in a better way rather than exchange your life’s savings for one that is profitable for the provider.
Getting Professional Pension Advice
Shopping for a pension annuity that is the perfect fit for you is a complex task that is simplified by asking for advice from a professional. More and more people are hiring Independent Financial Advisors (IFAs) to find pensions annuities that offer the best value for money.
An experienced IFA is familiar with the annuities available in the market so he is in a position to advice you on the best features to look for. He can help you compare some of the most attractive plans in the market with the one your pension provider is offering and point out where the provider’s plan falls short.
This puts you in a good bargaining position with your pension provider because you can negotiate with him for better terms on the annuity. If the provider cannot match your needs, you can simply switch over to one who can offer you the annuity you want in exchange for your pension funds.
An IFA also helps you evaluate your retirement needs in a realistic and objective way so that you can have an accurate idea of what you will need from your annuity. With his help you can assess the terms you should ask for in your pension annuities as regards, periodicity, continuance of the annuity after your lifetime, inflation adjusted increases etc.
The financial freedom you enjoy in your retired life depends on the size and terms of your pension annuity. It is essential for you to invest time and effort in identifying the right one to ensure an anxiety free retirement.
Tags: annuities, investment, pension, pension advice, pension Annuities, pension performance, pension plans, pension release, review
Posted in Pension Annuities
Tuesday, May 3rd, 2011
Pension annuities are what you buy with your pension fund at retirement to provide your income. The idea is that you will receive a guaranteed income for life in exchange for this pot of cash.
The conventional pension annuity was the only option available to pensioners until the UK government changed the laws surrounding pensions not too long ago.
There are now alternative options available to purchasing pension annuities as soon as you retire, and many people feel these are a means to increase your income.
There have been reports over recent years about the number of retires having to accept a drop in their living standards due to the poor rates on offer from pension annuities.
This serious drop in UK annuity rates is leaving pensioners penniless.
The rates have declined by 28% in the last 10 years, meaning that a fund which would have produced £9000 per year then will provide more like £2,500 a year now.
With alternative options now available, is it wise to stick to a conventional pension annuity or should retirees be considering what else is available?
The newest developments in the industry are flexible unsecured pension. This allows your pension fund to be invested into a personal plan, allowing for a tax free cash lump sum to be released, with the remainder of the fund being invested whilst producing pension income.
This gives time for investment markets to recover to at least the mid 2007 high and for annuity rates to become more favourable.
As you get older annuity rates increase anyway and of course if your heath deteriorates this would enables you to claim an enhanced annuity.
As a rule of thumb the older you are and the worse condition you are in the more you will get.
Unsecured pensions can be used as a means of taking benefits but deferring the final ‘lock in day’ to a more favourable one.
As mentioned, pension annuities do have a guaranteed income for life. Although this annual income might not be as much as you expected, or enough to sustain the lifestyle you had worked towards, it is guaranteed.
This means that you will have a risk-free retirement, always knowing that you will receive money every month. However, the alternatives to the conventional annuities may afford you more control and flexibility.
What you decide to do at retirement is a big, and in some cases life changing decision, which you need to discuss with an expert.
Pensionlite can help.Our Free, Independent, No Obligation Retirement Reviews are designed to put you in a position of knowledge before you make any decisions.It will not cost you a single 1p to accept a retirement review & recommendation report tailored to you, your circumstances and aspirations.
What have you got to lose?Pensionlite carries the prestigious status of Chartered Financial Planners.Our Chartered status, granted by the Privy Council, is our industries gold standard for financial planners and is currently held by less than 300 firms across the country.
This status brings with it serious obligations to ensure the advice, service and ongoing support we provide for you is of the highest quality, based solely on your researched needs and provided by someone of appropriate competency.
We offer whole of market choice and have no links or ties to any single business or organisation. Our aim is to provide our clients with tailored solutions, created by advisers with particular skills and specialist qualifications.
Our advice process is always to gather a full understanding of our client’s needs, circumstances and aspirations together with detailed analysis of any existing arrangements and make written recommendations before any decisions or actions are taken.
We provide free, independent, no obligation review and recommendation reports covering all aspects of our specialist areas of work.
Knowledge is power and unless you know, how can you decide on a course of action. We look forward to being of service.
To contact us telephone 01952 279 379, e mail enquiries@pensionlite.co.ukor for more information about pension annuities.
Tags: pension advice, pension Annuities
Posted in Pension Annuities
Tuesday, April 19th, 2011
What is an annuity?
This is traditionally what you purchase with your pension fund when you retire. It is an insurance policy which guarantees you an income for the rest of your life in exchange for a cash lump sum. There are several different types of annuities.
What not to do 1
Do not accept the annuity offered by your pension provider. Use your Open Market Option to check who will provide the best benefits for you.
What not to do 2
Do not go on the internet to see who will provide you the best deal and assume it’s accurate. You can get enhanced rates, some as much as 40% higher, by applying more personal details through a specialist independent firm.
Things like smoker status, even if you have given up, prescribed medicine, past and current health information and even post code all make a difference. Same applies to your spouse if you are looking for a pension for them to receive if you die in retirement.
Considerations
If you buy an annuity it is very unlikely that you can ever change your mind.
Do you want to lock in for life?
Annuity rates are lower now than ever before, is now the time to buy?
Do you want retirement benefits now without the lock in but retain the option to do so at a later date?
Would you consider an investment backed annuity designed to provide higher income in later years?
Do you want level or increasing income in retirement?
Do you want your spouse to receive an income should you die in retirement?
Do you want an income now or just some cash with income at a later date?
Do you think that speaking to a specialist who can advise you as you make one of the biggest decisions of your life is a better idea than buying the first thing offered or by trusting the internet figures or what you think is right?
Pensionlite can help.
Our Free, Independent, No Obligation Retirement Reviews are designed to put you in a position of knowledge before you make any decisions.
It will not cost you a single 1p to accept a retirement recommendation report tailored to you, your circumstances and aspirations. What have you got to lose?
Pensionlite carries the prestigious status of Chartered Financial Planners.
 Our Chartered status, granted by the Privy Council, is our industries gold standard for financial planners and is currently held by less than 300 firms across the country.
This status brings with it serious obligations to ensure the advice, service and ongoing support we provide for you is of the highest quality, based solely on your researched needs and provided by someone of appropriate competency.
We offer whole of market choice and have no links or ties to any single business or organisation.
Our aim is to provide our clients with tailored solutions, created by advisers with particular skills and specialist qualifications.
Our advice process is always to gather a full understand our clients needs, circumstances and aspirations together with detailed analysis of any existing arrangements and make written recommendations before any decisions or actions are taken.
We provide free, independent, no obligation review and recommendation reports covering all aspects of our specialist areas of work.
Knowledge is power and unless you know, how can you decide on a course of action.
We look forward to being of service.
To contact us telephone 01952 279 379, e mail enquiries@pensionlite.co.uk
or visit our web site www.pensionlite.co.uk and send us an enquiry that way we can provide annuities.
Tags: annuities, pensions, retirement
Posted in Pension Annuities
Thursday, April 7th, 2011
On your approach to retirement you will have to make one of the biggest financial decisions you will ever make before you can settle down into your new lifestyle.
We all know that our pension will help to support us financially once we are retired, but have you considered how to make that pot of money work at its best?
There are a range of options and ways in which you can take pension benefits. An Annuity is just one of them and there are several types.
An increasing demand for more choice at retirement has led to confusion over what to do. You would probably think that with the number of options now available at retirement, and the Open Market Option (OMO), more and more pensioners would be making the most of their money.
Unfortunately not, it seems that the more options available, the more people simply take the first pension annuity thrown at them without considering any alternatives.
As this is one of the biggest decisions of your life you should consider becoming a pensions expert if only for a couple of weeks whilst you make some decisions from a position of knowledge.
Pensionlite are here to help. Simple things first.
What is the OMO?
If there’s one piece of advice we can give you through this article, it is never to accept the first annuity your provider offers you. The OMO is where people are allowed to shop around for the best pension annuities or retirement option without any pressure to buy the annuity from their current pension company.
Most people do not think about comparing other options, in fact, some people are unaware that they are allowed to exercise their open market option.
To get the most out of the pension pot you have, you must shop around to find out what is available and what suits you. The best way to do this is to get help and guidance from an Independent Financial Adviser.
How could the OMO benefit me?
You might actually be surprised at the difference your decisions can make to your income.
Besides the difference in standard annuity rates as a result of competition for your business your health history, smoker status and even post code could mean an increase in benefits of as much as 40%. That’s £40 extra on every £100 you receive. Interested?
So, what are my options for pension annuities?
For the sake of your financial well being lets just park this idea of annuities for a moment and start thinking retirement benefits.
Because we are living longer, interest rates are low and fund values are still lower than they were when the market was at its mid 2007 high, annuities are not best value for money at the moment.
I am not saying that an annuity is not the right thing to do as I do not yet understand your circumstances and needs but in principle, if you could take tax free cash and an income now BUT still have the flexibility to lock in at a time that is better for you, would you consider it?
There is a range of alternatives to the conventional annuity nowadays and at Pensionlite we quite fancy trying to get you to ‘Pension Expert Status’ if only for a couple of weeks whilst you make some decisions.
If something is right for you, whatever it is, we will tell you and explain why.
It will cost you not 1p to accept a retirement recommendation report tailored to you, your circumstances and aspirations so what have you got to lose?
Pensionlite carries the prestigious status of Chartered Financial Planners.
Our Chartered status, granted by the Privy Council, is our industries gold standard for financial planners and is currently held by less than 300 firms across the country.
This status brings with it serious obligations to ensure the advice, service and ongoing support we provide for you is of the highest quality, based solely on your researched needs and provided by someone of appropriate competency.
We offer whole of market choice and have no links or ties to any single business or organisation.
Our aim is to provide our clients with tailored solutions, created by advisers with particular skills and specialist qualifications.
Our advice process is always to gather a full understand our clients needs, circumstances and aspirations together with detailed analysis of any existing arrangements and make written recommendations before any decisions or actions are taken.
We provide free, independent, no obligation review and recommendation reports covering all aspects of our specialist areas of work.
Knowledge is power and unless you know, how can you decide on a course of action.
We look forward to being of service.
To contact us telephone 01952 279 379, e mail enquiries@pensionlite.co.uk to find more about pension annuities.
Tags: Individual Pension Plans, pension allowance, pension Annuities
Posted in Pension Annuities
Thursday, March 24th, 2011
This is known as a conventional lifetime annuity, but there are more options available nowadays than just straight forward pension annuities.
Approaching retirement age is something many of us look forward to, but when reality sets in about the major financial decisions we have to make, it can become quite daunting. The idea of an annuity is that you exchange the money in your pension fund for a lifetime annual income.
 In the current economic climate it is absolutely essential that you consider every option available to you as traditional annuity rates are declining. Research from DMP financial research experts shows that the annual income from an annuity for a 65 year old single male in 1990 was £10,000 more than in 2010.
This is just one of many reasons that people are considering alternative options at retirement than just pension annuities. By discussing your needs with a pension specialist, you should be able to find the ideal solution to your pension upon retirement. There are several different types of pension annuities on the market now, plus some different options which could suit you better.
If you decide that a pension annuity is the right step for you, then it is essential that you take advantage of the Open Market Option (OMO) available to you. It has been found that pensioners have lost over £7 billion of income over the last 10 years because they did not shop around for the best annuity rate.
Thousands of people are not aware of what is available to them when they retire and simply opt for the annuity on offer from their pension provider.
Considering that this is the most important financial decision you will ever make, the number of pensioners not considering their options is quite surprising. By not taking a good look at your options and assessing the rates of pension annuities on offer, you are surrendering thousands of pounds in come every year. Pensionlite are an independent financial advisory firm with experts in pensions and retirement on hand to guide you through your options at retirement.
So what options do you need to consider?
Traditional pension annuities: these guarantee a set lifetime income, and although they ensure that you are in a stable financial situation for the rest of your life, they are very inflexible as once purchased they cannot normally be altered.
Enhanced rate annuities: these pension annuities consider mortality risk from things such as smoking and existing medical conditions. Due to the possibility of a shorter life span, enhanced rate annuities usually offer higher rates.
Flexible rate annuities: this is the most recent development in pension annuities and allows you to obtain a tax free cash sum, and invest the remainder of the pension fund to purchase a 5-year annuity. This provides added flexibility but can be a risk if you do not seek professional financial advice.
Pension&Investor Lite carries the prestigious status of Chartered Financial Planners.
Our Chartered status, granted by the Privy Council, is our industries gold standard for financial planners and is currently held by less than 300 firms across the country.
 This status brings with it serious obligations to ensure the advice, service and ongoing support we provide for you is of the highest quality, based solely on your researched needs and provided by someone of appropriate competency.
Pension & Investor Lite, is an Independent Financial Adviser firm, Directly Authorised and Regulated by the Financial Services Authority, specialising in Pensions & Investment.
We offer whole of market choice and have no links or ties to any single business or organisation.
Our aim is to provide our clients with tailored solutions, created by advisers with particular skills and specialist qualifications.
Our advice process is always to gather a full understand our clients needs, circumstances and aspirations together with detailed analysis of any existing arrangements and make written recommendations before any decisions or actions are taken.
We provide free, independent, no obligation review and recommendation reports covering all aspects of our specialist areas of work.
Knowledge is power and unless you know, how can you decide on a course of action.
We look forward to being of service.
To contact us telephone 01952 279 379, e mail enquiries@pensionlite.co.uk for more information on pension annuities.
Tags: pension advice, pension Annuities
Posted in Pension Annuities
Sunday, December 19th, 2010
The pension market offers a diverse range of options which can make coming to a final decision on the right pension annuity a tricky business. Everyone has the same goal when purchasing a pension: to ensure that their retirement will be devoid of worries, freeing up time for them to concentrate on enjoying life’s opportunities.
But which of the available pension annuities should you purchase? The best course of action is to seek advice from a specialist pensions adviser, who will assist you in purchasing the correct pension annuity in accordance with your retirement plans and your finances.
 Conventionally, a lifetime annuity will be purchased upon entering into retirement, but these are unconventional times and the financial market has reflected customer demand which in turn has led to a disparate range of pension annuities being made widely available.
The increase in options has only served to highlight the need for expert advice, which should always be sought before making an informed decision regarding which of the available pension annuities to purchase.
Each has its own features and particular benefits and a sound knowledge of what the pension annuities on the financial market entail is necessary before an intelligent comparison can be made.
The traditional form of pension annuities guarantees a set lifetime income which is impervious to investment or mortality risk. Once purchased they cannot be altered, so on the one hand conventional pension annuities offer a stable and secure income, but on the other they are extremely inflexible, meaning the interest rate at the time of purchase will be the set rate for the annuity.
This means they offer protection from falls in the interest rate, but also no chance of benefiting from hikes.
Offering genuine rock solid stability, the traditional lifetime pension annuities are understandably popular, but with many becoming more adventurous and knowledgeable of the financial market, they are willing to abandon stability in order to have the opportunity of benefiting from more flexible pension annuities.
A relatively new feature on the financial market, flexible pension annuities consist of the collected pension funds being invested into a particular kind of pension plan allowing the early release of pension equity in the form of a tax free lump sum of up to a quarter of the total pension fund value. The remainder of the pension fund can then be invested in a 5-year annuity renewable every five years.
This provides much greater freedom than conventional lifetime pension annuities.
Another alternative form to lifetime pension annuities are enhanced rate pension annuities, which often factor in mortality risk resulting from life habits like smoking or existing medical conditions, often resulting in higher rates being paid due to the increased possibility of a shorter life span.
It is imperative that people seeking to purchase a pension annuity fully disclose their medical history and lifestyle to the pensions adviser.
It is important for people approaching retirement to conduct individual research into available pension annuities, but the need to obtain independent specialist pensions advice cannot be stressed enough.
Tags: pension Annuities, pension reviews, pensionlite, pensions
Posted in Pension Annuities
Wednesday, October 20th, 2010
Retirement poses many questions for people who wish their twilight years to be calm, comfortable and completely stress free and one of these can be which of the available pension annuities is right for them. There are many options available which can cause some hesitancy and uncertainty when it comes to making that final all important decision.
The traditional course of action when an individual enters into retirement is to purchase a lifetime annuity. However, there is now a range of different pension annuities available each offering their own benefits and advantages, not least being their greater level of flexibility compared to conventional lifetime pension annuities.
Undoubtedly, more choice enables someone of retirement age to weigh up the options afforded by the various pension annuities and find the one which perfectly meets their requirements. To do this, it is important to gain some knowledge of what all the different pension annuities have to offer.
Conventional pension annuities provide a lifelong guaranteed income at a set rate which will not be subject to mortality risk or investment risk. However, the stability offered by conventional pension annuities comes at the price of flexibility. Conventional pension annuities offer no opportunity to change your mind once they have been bought and the state of the investment market at the time at which you purchase will decide the rate of your annuity for life.
Understandably, it is the inflexibility of conventional pension annuities which gives many entering retirement age second thoughts. Alternative types of pension annuities offer far more flexibility and a longer period of time to fully consider what your final retirement plans should be.
However, many are seeking the exact form of unshakeable stability offered by conventional pension annuities and wish only to have the peace of mind that comes from having a steady retirement income unaffected by the stock and housing markets or any other investments they might have.
Among the alternative kinds of pension annuities which may be available are enhanced rate pension annuities. Many companies providing pension annuities take into consideration their client’s medical condition and lifestyle, such as smoking habits, when deciding which rate to set for the pension annuities offered.
In many cases enhanced pension annuities can mean significantly higher rates than those paid by conventional pension annuities and it is certainly worthwhile discussing them with pension advisers.
The most recent development in the market is flexible pension annuities, which are being offered with growing frequency by a small number of providers. These entail your pension funds being invested in personal pension plan, allowing a tax free cash sum to be collected, with part of the pension fund than being used to buy a 5-year annuity.
Naturally, this can be repeated every five years and allows a longer period of time to decide on whether to secure the stability offered by conventional lifetime pension annuities, perhaps during a peak in investment market rates.
Everyone entering retirement and making pension plans should familiarise themselves with the available pension annuities and take time and effort to buy the annuity most suitable for their personal needs.
Tags: annuities, lite, pensions, plans, retirement
Posted in Pension Annuities
Friday, August 27th, 2010
Unfortunately, difficult decisions don’t end when you retire from the daily grind of working life. One of the most important decisions you will make concerns pension annuities. When you buy an annuity you exchange your pension pot for an annual income. There are many benefits to that, but once you’ve signed up there is no going back and you are tied to your original terms forever.
Thankfully, you don’t need to face such a major decision without help. Pensionlite can offer the advice and guidance you need to make an informed decision on the type of pension provision that will best suit your particular needs.
In the current economic climate, buying an annuity now might deliver a much lower annual income than you would have expected even a few years ago. Pensionlite’s independent advice will allow you to decide on the best method to maximise your retirement income.
Perhaps your personal pension provider has already contacted you with an annuity offer. That’s unlikely to be the highest income available to you. Pensionlite can use their access to the whole pension market to provide you with up-to-date information on the pension annuities that are available from other providers.
You might even decide that a conventional annuity isn’t the product that best suits your circumstances. In the short term, at least, you might simply be happy to have an unsecured pension with a cash free lump sum and then withdrawals from your invested pension fund.
Higher annual incomes might also be available from pension providers who take into account your medical history and offer an Enhanced Rate Annuity. Or perhaps you’d prefer to investigate Flexible Rate Annuities, still a small corner of the pension market, but allowing you to commit for only a set period with the remainder of your pension fund left in an investment scheme.
At a time in your life when you are thinking about enjoying a lot more relaxation you might not expect the annuity question to suddenly hover into view. With so many options, alternatives and providers making the right decision is certainly daunting. And the finality of a conventional annuity scheme makes it one of the most important decisions you are ever likely to make.
So much for relaxing!
With so many pension providers hoping for your business there are certainly great deals available. But even a buyer’s market can be a stressful place as you wrestle with a decision that will dictate your income for the rest of your life.
It’s important to remember that the first offer you receive is unlikely to be the best offer available. Only fools rush in.
By simply taking the time to tap in to Pensionlite’s knowledge and expertise of the pension annuities market you can be confident of making the right decision, the decision that will get your money working hard for you so that you can begin to enjoy your life without the pressures of hard work.
This is one decision that you can’t afford to get wrong. Thankfully, Pensionlite have the expertise to make sure that you make the right choice.
Tags: advice, annuities, expertise, market, pension, pension Annuities, pensionlite, retirement, specialist pension
Posted in Pension Annuities
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Pension & Investor Lite, Pensionlite, Investorlite and ISAlite are the trading styles of Advicelite Ltd, which is Authorised and Regulated by The Financial Services Authority.
Registered office Summit House, Wanstead, London E11 2AA. Registration number 05217472
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