UK Annuities: FINANCIAL CONDUCT REGULATED SITES • QUALIFIED, TRUSTWORTHY ANNUITY ADVICE

Centralising Your Pension Annuity Search

These well-known and trusted brands represent a selection of possible pension annuity providers and income drawdown providers. Please scroll down to visit a choice of FCA registered annuity advisers that are authorised to sell annuities for these companies...


Legal And General Annuity Liverpool Victoria Annuity Reliance Mutual Annuity Just Retirement Annuity Aviva Annuity Canada Life Annuity Axa Annuity
Prudential Annuity MGM Annuities Partnership Annuity Hodge Lifetime Annuity Aegon Scottish Equitable Annuity Scottish Widows Annuity Standard Life Annuity
BUT FIRST, SOME IMPORTANT INFORMATION THAT COULD BOOST YOUR RETIREMENT FINANCES Have you taken out a credit or store card, mortgage, secured loan, unsecured loan or hire purchase agreement in the last 10 years? If you have (or have had) a mortgage, loan or credit card with providers such as Barclaycard, Abbey, Santander, Littlewoods, MBNA, Halifax, HSBC, HBOS, Lloyds, Natwest, RBS or in fact any other credit provider, you may be able to reclaim up to £15,000 if you were sold PPI insurance - in most cases even if you have lost the paperwork. Learn more about PPI Claims now!


annuity comparisons Visit Open Annuities

You could increase your annuity by thousands. Make sure you recognise the best annuity advice when you get it. The more information about annuities you have, the more able you will be to recognise the best annuity advice when you receive it.
Visit Open Annuities Financial Services Register Number 530750


Annuity Plan Visit Pension Annuity Plan

You may be able to secure several thousand pounds more over your lifetime from annuity providers than your current pension provider. Many are unaware of this very important information. The more information you have, the more able you will be to recognise the best deal when you see it.
Visit Pension Annuity Plan Financial Services Register Number 530750


annuities plan Visit Annuities Plan

All fund sizes welcomed. Why should the annuity buyer be careful? Buying from your pension provider isn't always necessarily the best idea.
Visit Annuities Plan Financial Services Register Number 530750


annuity comparisons Visit Pension Annuity Planner

This company may be able to increase your standard pension annuity through enhanced annuities.
Visit Pension Annuity Planner Financial Services Register Number 530750


annuity comparisons Visit Annuity Base

Using specialist annuity industry search software, an FCA registered Independent Financial Adviser will query top annuity and annuity alternative providers' databases to help you compare and choose which one is the best for you.
Visit Annuity Base Financial Services Register Number 530750


annuity comparisons Visit The Enhanced Annuity

Specialists in enhanced annuities. It is estimated that up to 40% of the UK population could boost their pension annuity income with an "enhanced annuity".
Visit The Enhanced Annuity Financial Services Register Number 483817


annuity comparisons Visit Annuity Comparisons

Why would you use an automated annuity comparison website when an authorised, qualified pension consultant can advise you which is the best annuity for free with no obligation to buy? There are many reasons why you should not trust your future income to comparison tables on faceless sites. In some matters you need absolute certainty.
Visit Annuity Comparisons Financial Services Register Number 483817


annuity comparisons Visit Annuities Extra

Pension annuities for those of us who are not in the best of health. If you've a health problem, no matter how small or insignificant you think it is, you'll stand an increased chance of a higher annuity income.
Visit Annuities Extra Financial Services Register Number 483817


annuity comparisons Visit Simple Annuities

Finding an annuity does not have to be difficult. Pension annuity retirement finance experts with vast experience of annuities are waiting to help you. Compare pension annuities and annuity alternatives now.
Visit Simple Annuities Financial Services Register Number 483817


annuity comparisons Visit The Female Annuity

1000's of women retire every week in the UK. Compare annuities for women and their alternatives.
Visit The Female Annuity Financial Services Register Number 460094


annuity comparisons Visit Annuity Pathway

Your simple pension annuity journey. How you might take the wrong annuity route and lose the annuity income that is rightfully yours.
Visit Annuity Pathway Financial Services Register Number 460094


annuity comparisons Visit Just One Bite Annuities

How a pension annuity will affect your life. You will only get one bite of the annuity apple. Once you buy an annuity, there's no going back.
Visit Just One Bite Annuities Financial Services Register Number 460094


annuity comparisons Visit Pension Annuities Plus

Your annuity income may increase if you have had certain conditions such as high blood pressure, asthma or high cholesterol. This is also true for smokers and for those who have worked in certain occupations. Get pension annuity comparisons now.
Visit Pension Annuities Plus Financial Services Register Number 483817


annuity comparisons Visit Annuity Answers

Why should the pension annuity buyer beware and why do so many retirees ignore a much bigger annuity income? Compare annuities now.
Visit Annuity Answers Financial Services Register Number 483817


annuity comparisons Visit Smokers Annuities

Your lifespan as a smoker and your annuity options. We're sorry to be blunt, but you most likely already know that smokers, in general, have shorter lifespans than non-smokers. Of course annuity providers are well aware of this unfortunate fact of life. Increase your annuity now.
Visit Smokers Annuities Financial Services Register Number 483817


annuity comparisons Visit Annuity Key

Unlike some companies, all fund sizes are accepted. The Retirement Income Customer Hotline Limited may be able to boost your pension income by more than 40% compared with your current pension provider's offering.
Visit Annuity Key Financial Services Register Number 460094


annuity comparisons Visit Buy an Annuity

Buying an annuity from your pension provider isn't always necessarily the best option! You might be able to secure several thousand pounds more over your retirement from annuity providers than your current pension provider.
Visit Buy an Annuity Financial Services Register Number 154622


annuity office Visit Annuity Office

We recognise our annuity clients as individuals, which is why we deal with every case on a one-to-one individual basis. Did you know for instance that your income may increase if you have had certain health problems such as high blood pressure, high cholesterol or asthma? This is also true for smokers and for those who have worked in certain occupations.
Visit Annuity Office Financial Services Register Number 483817


What actually is a pension annuity?


(Please note that the following is not intended as advice and an FCA registered broker should be consulted before making a decision regarding pension annuities and annuity alternatives)

A conventional pension annuity is an arrangement where you make a lump-sum investment. From this investment you'll receive a guaranteed level of annuity income. There are also alternative forms of annuities that provide a greater degree of flexibility. Most annuities are bought using funds held in money purchase pension schemes.

So basically, an annuity converts a savings fund into income and that income will be paid to you as long as you live.

Pension Types?
  You can buy an annuity if you have one of the following pension types:

 1. Personal Pension
 2. Stakeholder Pension
 3. Retirement Annuity Contract (RAC)
 4. Most Free Standing Additional Voluntary Contribution Scheme (FSAVC)
 5. Most Additional Voluntary Contribution Schemes (AVC)
 6. Group Personal Pension (GPP)
 7. Section 32 Policy (Buy Out Bond)
 8. Occupational Money Purchase Scheme

With an Occupational Money Purchase Pension, the trustees may buy your annuity for you, but if you think that their annuity choices don't suit you, you can shop around for a better annuity using the open market option.


An annuity is payable for your lifetime after purchase, although it's possible to select a fixed period if purchasing an annuity with cash rather than pension funds.

An example of this type of "Compulsory Purchase Annuity" is a conventional annuity, with profit annuity and unit linked, or 3rd way annuity. An annuity that is purchased from savings, not from a pension scheme is referred to as a Purchase Life Annuity or Immediate Vesting Annuity.

This could be one of the biggest financial decisions you'll ever make, so ensure that you maximise your annuity income. Once you buy an annuity you can't change your mind so you need to make sure you get it right first time.

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Types of Annuity: Tailored to suit you personally

There are a wide range of options which can be selected when choosing an annuity plan. The most widely used annuity options are listed below.

Minimum Term

Annuity income is guaranteed to be paid until the death of the annuity holder, but it can also be modified to include any of the following options:

• 5-year guaranteed annuity - annuity ceases at death of annuity holder, or after 5 years, whichever is the longer

• 10-year guaranteed annuity - annuity ceases at death of annuity holder, or after 10 years, whichever is the longer

• Joint life annuity - annuity ceases on the death of the second of two named annuity holders

Spouse Benefits

Your spouse, partner or dependant can be protected after your death by choosing one of the following options:

• Reduction to half benefit,
• reduction to two thirds benefit or
• full benefit

The annuity is thus adjusted to the new level at the death of the annuity holder or at the end of the guarantee period (if selected) and continues until the death of the spouse, partner or dependant.

Escalation

An annuity can either be paid at a fixed level or can include an escalation at 3%, 5%, or at the RPI percentage (annual increase in the retail price index). You can thus choose to compensate for any inflationary effects on your income. However, your initial income level will be reduced if you choose escalation. Your specialist annuity adviser can look at a range of annuity options for you to help you decide on the best option for your individual circumstances.

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Purchased Life Annuity: An annuity with a difference

A purchased life annuity is an annuity purchased with your own funds, as opposed to from a money-purchase pension fund. It operates in the same way as a compulsory purchase annuity, but it does have tax advantages over a conventional annuity.

The entire pension that you receive from a compulsory purchase annuity is treated as taxable income in the same way as income from any normal employment would be. However when you buy a purchased life annuity, that part of the annuity income, which is calculated as capital repayment to you, is tax-free. Only that part of your annuity income that is interest paid on your investment is taxable.

With similar annuity rates, the effect of this tax treatment of a purchased life annuity, for a basic rate tax payer from a £200,000 investment would be to increase their net annuity income by approximately £200 per month.

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Take advantage of The Open Market Option

The open market option allows those who retire to shop around for different ways to convert their pension funds into an annuity, as opposed to just accepting the annuity rate offered by their pension provider.

When your pension fund reaches maturity, your pension provider will advise you of the fund value and give you general information about annuities and the level of annuity income you would receive.

You are then entitled to use your open market option, which allows you to transfer the pension fund value to another annuity provider of your choosing. This enables you to take advantage of a higher annuity income which may be available from a different provider. Annuities are usually provided by insurance companies.

You could receive more annuity income from a pension annuity than you think. You may be able to get a better annuity rate by shopping around. You should check what your provider is offering you and then compare this with the annuities on offer through the open market.

However, many retirees still don't use their open market option to buy an annuity. This is not just because they are unaware of the benefits of doing so, but they don't actually realise that they have an option. It's been claimed that those at retirement who don't use their open market option, taking the default annuity offered by their pension provider, may be missing out on up to 40% more annuity income.

According to the professional pensions publication, DC World, it is estimated that over £1 billion in pensions was lost by failure to get proper advice on the best-selling annuity.

To make the most of the Open Market Option it is important that you speak to an Independent Financial Adviser (IFA) who will explain the different annuity (or alternatives to annuities) and retirement options available.

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Enhanced Annuities / Impaired Annuities

If you're in advanced years, a smoker or have/have had impaired health you may be able to increase your annuity income.

The reason why some pension annuities, called "Enhanced Annuities" or "Impaired Annuities", pay more than standard annuities is because those in better health tend to live longer than the average. The annuity providers therefore have to pay out more over the healthier person's retirement lifetime so their yearly income is usually lower. This is why it is extremely important to report any ailment, no matter how small you think it is, to your annuity adviser. It may get you a higher rate of return.

You may also receive a higher annuity rate if you smoke 10 or more manufactured cigarettes or use 85mg of rolling tobacco per day. (Visit Smokers Annuities.)

Even though you may regard yourself to be in relatively good health (some think they have to suffer from a serious medical condition such as cancer, heart disease or stroke to receive extra income in retirement), the reality is often different. A seemingly minor condition or complaint may substantially increase your annuity income.

In fact, if you have one of nearly 1500 health conditions, such as asthma, being overweight, high blood pressure, heart problems etc., you must ensure you mention it to your annuity adviser.

Additionally, higher annuity incomes are often achieved by:

• Those who have retired from certain occupations
• Those who live in certain parts of the country

It is estimated that up to 40% of the UK population could boost their annuity income with an "enhanced annuity", if you think you fit that category, it's essential that you tell your annuity specialist about it. You will stand a better chance of a higher annuity income for the rest of your retirement.

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Annuities for Smokers

If you're a smoker, annuity providers factor in that you're likely to die sooner than the average non-smoker. They therefore assume that they'll not be paying you your annuity income for as long. A presumed shorter lifespan means that being a smoker can increase the amount of income you receive from your annuity.

As a smoker, you may already be entitled to receive a higher pension annuity income, but also, dependent on your age, you may receive further enhanced annuity rates of up to 30% above standard level annuity rates. For instance, if normally you would receive £1,000 per annum as a non-smoker, you might receive as much as £1,300 per year as an older smoker. (Visit Smokers Annuities.)

In the case of enhanced annuities it can actually pay to be older and in poor health!

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