Annuity and Retirement Income Service.

Are you are looking to retire? If so, your pension company will often send to you an annuity information pack. This pack will contain a number of options relating to the income and pension benefits you can expect.

What is an open market option?

If you are thinking about buying a pension annuity using an open market option, you do not need to buy it from your pension provider.

A wide range of choices available.

Our pension service can help you choose the most suitable option when it comes to buying your annuity. There are many options to choose from, such as life time annuity rates, fixed term, with profits pensions or unit linked annuities.

Although the Financial Services Authority provide a comparison of Annuities and open market option products they are not able to provide advice about the most suitable pension product.

There can be a large difference between the pension your provider will pay and the best annuity rate on offer in the market.

Your health can be taken into account.

If you are a smoker or have health issues then certain pension providers may offer enhanced annuity terms to you.

We can also provide pension advice on the range of ways to provide pension income, such as income drawdown, phased retirement and sipp pension arrangments.

How to make the most of your pension annuity.

If you would like to discuss your pension choices and pension annuity options in more depth please contact us on 01454 321511.

If you are considering investing into a pension it is important to remember that the value of your pension investment and the income generated could fall as well as rise and that there is no guarantee you will get back more than you invested.