Let us help you find the best Annuity for your Pension
We have carefully selected specialist partners to bring you detailed factual information and competitive quotations on Retirement Policies from the UK's leading providers.
Instead of pushy sales people, we offer a more personal service that provides a thorough market perspective and allows you to make an informed choice.
UK Annuity Providers
The Annuity Providers in the UK are a mixture of major insurers and more specialised firms.
For some time, Aviva has been the biggest provider in terms of market share and product coverage.
Relative newcomers like Just Retirement and Partnership focus on enhanced policies for people with lifestyle choices that can affect their health, or people with serious illnesses.
As buying an annuity is such a critical moment in your future financial situation, it’s a good idea to get a broad perspective of who offers what.
Enhanced Pension Annuity
Fixed Term Annuities
Investment Linked Annuity
Purchased Life Annuity
Enhanced Purchased Life Annuity
Every provider has their strengths and weaknesses, so what should you consider when selecting an Annuity provider?
- Does the provider offer the type of Annuity you want?
- What Annuity rate will they offer you? This is an important deciding factor, but not the only one.
- Will they actually accept your application? Some Annuity providers will not deal with Protected Rights, and others have minimum and maximum purchase prices
- Will they be prepared to negotiate a better deal? This is usually reserved for larger funds, generally above £50,000, But whatever the size of your fund, it’s always worth trying to negotiate for a better deal.
- What is their service like?. Will they process your application before the quotation guarantee period comes to an end? Delays can get costly.
- What is the financial strength of the provider? The new financial regulations being brought in now after the recent financial crisis should strengthen all the existing annuity providers and bring some comfort, but it’s a question which should still be asked nevertheless.
- What is the provider’s definition of RPI (if you choose this option)? Will they reduce your income in period of deflation? Will they cap it in times of high inflation?
Remember, it isn’t always just down to rate. Other things are important too. These are just some of the things you should be aware of. Your independent adviser should be able to answer all of these questions and more for you.