Annuity Top Tips

Start Early

Ideally you should start to adjust your pension investment strategy 5-10 years before your planned retirement date. This should be done to protect your accumulated pension fund value and to minimise the effect of major stock market falls.

Shop Around

You don't have to take your annuity income from your pension provider. You can shop around. This is known as an open market option. Getting the best annuity rates could increase your income by up to 30% in some cases.

Always check what your annuity rate your pension provider is offering you first, The annuity rate they offer you as an existing customer is usually better than the annuity rate they make available to new customers. In addition, they may offer a guaranteed annuity rate under your pension which may be higher than the rates offered in the open market.

Take Account of Your Current Health

Always check whether you may be eligible for an enhanced annuity and/or an impaired life annuity.

Mix & Match

You can split your pension annuity between a level annuity and with profits annuity. That way you are getting the best of both worlds - a guaranteed income and one that has the chance to increase as it benefits from future investment returns.

If you or members of your family are considering purchasing an annuity, please feel free to contact us for personal annuity advice from an Independent Financial Adviser. We are able to provide home appointments across the whole of West Sussex - Brighton, Hove, Haywards Heath & Crawley, East Sussex, Surrey - Croydon Sutton, Reigate, Redhill,  South London - Wimbledon, Fulham, Chelsea and Hammersmith and Central London.

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