Annuity Services

Use our table below for annuity services. You could get significantly more annuity income if you use an annuity specialist in helping you to arrange your pension.

Sorry! An error occurred while loading content. Please check back later.

Elderly Couple

Get a better Annuity deal

If you are approaching retirement your pension provider may have or will shortly will send you a letter outlining the value of your pension fund and the pension that could be provided on different terms if you buy your annuity with them. Your pension provider is obliged to inform you that you have the right to move your pension fund elsewhere if you find a better annuity deal - often referred to as the open market option, many pension providers do not make it as clear as they could that you have this right.

Having received an annuity quote from your current pension provider you are in a position to shop around. You can either do this yourself or you can engage an annuity specialist company to help you shop around for a market leading deal. Annuity rates are constantly changing and there are many annuity options available for those who are looking for alternative options.

In shopping around you will need to decide what type of annuity arrangement you want. Do you want the annuity on a single or joint life basis if you have a partner. If on a joint life basis do want the annuity to reduce on first death by 1/3rd, 50% or not at all. Do you want the annuity to increase over time e.g. this can be by a set amount 3% pa or 5% pa are typical, or by retail price inflation (RPI) or do you want income to remain level? Do you want payments to be made to you monthly, quarterly or annually, in arrears or in advance?

If you decide to move your pension fund to another pension provider to benefit from a higher annuity rate a specialist annuity company can help sett his up for you. The new provider will provide you with a relevant annuity application form requiring your authority to have funds moved from your existing pension provider. The whole process should take no more than 4 weeks.

If you have an existing health or medical condition this can work in your favour in getting a better annuity deal but the arrnagement time might take a bit longer as medical records will need to be accessed etc by the new company.

Important Risk Information:

This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.

Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.

Investment Place is a trading name of Fair Investment Company Ltd which is authorised and regulated by the Financial Conduct Authority.