Pension Annuity Rates
To get the retirement you deserve, you need to ensure that at retirement you get the best pension annuity rates you possibly can. Researching your retirement pension means going onto the open market, usually through a specialist pension annuity intermediary who can search the whole market and find the best retirement pension annuity for you.
The intermediary will ask you questions about the options that you require within your pension annuity rates. There are quite a few options that you can choose from and it is important to make sure that you think carefully as once your annuity is set up it cannot normally be changed.
What are the pension annuity options?
The pension annuity options are a matter of individual choice. The retirement pension options are summarised below. You can have them all or just choose the one’s you require.
- Payment frequency, usually a choice of monthly, quarterly, 6 monthly or annually
- In advance or arrears, payment can be made in advance or in arrears to you
- Indexation, usually a choice of 0% to RPI
- spouse or partners continuing pension, usually a choice of 0% to 100%
- annuity guarantee, usually a choice of 0 to 10 years
How do I find the best pension annuity rates?
When you reach retirement the pension fund you have saved is exchanged for an annuity, to find the best pension annuity rates you need to shop around on the open market and not just accept the rates you are offered from your retirement pension provider.
How to get the best retirement pension
If you contact a specialist retirement pension intermediary they will normally fill out a short questionaire to find out more about what you need, they will probably also fill in a medical questionaire with you and then submit this to all the annuity providers that offer retirement pension annuities rates. You may even find you qualify for an enhanced retirement pension.
Independent financial advice on pension annuities is so important to get the best retirement pension annuity.
