This could be the most important financial decision you make, don't settle for what your existing pension provider offers.

What is the Open Market Option?

Many people are unaware that they have the right to give their pension pot to whichever annuity provider will pay them the highest income for life. This is known as an open market option. This can make a significant difference to the level of income you receive and therefore your lifestyle in retirement.

Buying an annuity is one of the most important financial decisions you will ever make as it determines the level of income you will receive from retirement for the rest of your life.

What Should Influence My Choice Of Annuity?

You need to think about more than your current income requirement. How much money will you need in future? Will you need to make provision for your husband or wife or civil partner as well? Are you planning to take a pension commencement lump sum from your pension pot - doing so will reduce the amount of money available for annuity purchase.

In addition to a basic income for you in retirement, your pension fund can also be used to buy a number of additional annuity benefits, such as pensions for dependants, guarantee periods, etc. The basic annuity offers a set level income that will not change. However, in addition to extra benefits you may also elect to purchase an annuity that pays more over time.

However, it is important to remember that the more "additional benefits" you wish your pension to provide, the lower your actual income is likely to be. This is because each of these benefits has a cost, which reduces the proportion of your annuity that is available to provide you with an income. Once the annuity has started you may not change the benefits selected, which means it's important you consider your options very carefully.

Will I Pay a Fee?

Mostly we are paid by pension providers for the work we do and there is rarely a need to charge a fee, however, some clients would rather pay us on a fee basis and we are happy to oblige. Either way, we will not charge for our time without your agreement at first.

Will You Shop Around For Us?

In the past, pension annuity advice has been difficult to find, but now by using our dedicated software we are able to make this specialist advice available to everybody.

Taking time now to shop around is time well spent, but you need to be aware of all your options, not just the annuity option. This is where we can help you.

We are Independent and recommend from the whole market.

Impaired Health Annuity

Minor conditions such as raised blood pressure and lifestyle choices such as smoking can make you eligible for an enhanced annuity rate.

Income Drawdown

Allows you to take your lump sum from your pension fund and receive a flexible income from nil to the maximum allowed, if required without purchasing an annuity.