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Compare Aviva Annuities To Increase Your Retirement Income By Up To 40%!

FREE Independent Annuity Advice: Choosing the right annuity at the start is very important as once you have bought your annuity you cannot change your decision. In order that we make the right recommendation to you it is important, therefore, that all your circumstances and requirements are taken into consideration. Some of the things you need to consider and the options open to you are listed below, but every case is unique. Our friendly advisors can take you through the process and explain everything in simple, straightforward language so that you are assured of getting maximum retirement income and understand what you are getting.

Once we have made our recommendations (from every UK provider) you are free to go to those providers to see whether by going directly to them they will offer a better rate. You may be surprised!

This service is completely FREE and you do not have to follow the recommendations we make! We are not tied to any UK Provider and will act totally independently on your behalf.

The Open Market Option: Increase Your Retirement Income!

Increase your retirement income by up to 40%!

Many people are unaware that they have the right to shop around for a different annuity provider, to provide them a pension income for their retirement. By shopping around, you could get a better annuity rate for your pension fund! This is known as an open market option and it can make a significant difference to your retirement income.

The process of shopping around is time consuming but it's well worth it. That's how we can help. We represent you and will act on your behalf to investigate and find the best available annuity rate on the market. We will investigate every annuity from every UK annuity provider to find the best deal for you!

Annuities Explained: Your Choices!


Get The Best Annuity Rate And Increase Your Retirement Income By Up To 40%.

The rate you get for any annuity type will very much depend on several factors, for example:

Questions Answered
  • Whether you require a joint life or single life policy.
  • Do you want the policy to be indexed linked so that it increases in line with inflation?
  • Whether you have any health or lifestyle considerations.
  • Do you wish to take the 25% Cash Tax Free Lump Sum from your pension fund?

Below are just a few of the questions you may have but ultimately every case is unique and it is important that your specific circumstances and requirements are taken into consideration.

Our service is completely FREE and you do not have to follow the recommendations we make! However, with our extensive knowledge of the annuity market and access to all UK annuity providers our friendly advisors will be able to quickly find the best policy for you and answer any questions you may have.

 

Annuties Explained: Your Questions Answered!

WHAT IS AN ANNUITY? An annuity is an income for life provided by an insurance company in exchange for a pension fund or any lump sum. The bigger the pension pot, the bigger the income will be.

WHEN TO BUY: You can buy an annuity at any age from 55 to 77 years old.

Before buying, it is possible to take 25 per cent of your pension fund as a tax-free lump sum on retirement.

HOW TO BUY: You do not have to buy your annuity from the same company that runs your pension. The difference between the best and worst annuities can be as much as 40 per cent so it is always worth shopping around.

Before comparing annuities choose whether you would like your retirement income to remain at the same level for life, increase at a fixed rate each year, or change in line with inflation.

The more you wish to have your annuity increase by each year, the less the starting income will be.
It is also possible to choose an annuity that is linked to a with-profits fund or unit-linked investment. With these types of annuity, the income varies depending on the performance of the investment.

When choosing an annuity you must decide whether it should pay an income to your spouse or partner after your death. The income can continue in full or be reduced to 67 or 50 per cent of the original amount.

Having a joint-life annuity will substantially reduce the income you will receive because the annuity will need to be paid for longer.

THINGS TO CONSIDER
If there is a history of ill health in your family, or you are a smoker, you might be eligible for an "impaired life annuity", which pays a higher income because your life expectancy is shorter.

Research show that 30 per cent of retirees could be eligible for impaired life annuities but to qualify you will need to supply evidence and/or undergo a medical test.

Unless you have a joint-life policy you cannot bequeath an annuity to your family.

Unless you have an in-depth knowledge of pensions it is always worth taking professional advice before deciding on an annuity because once it is bought it cannot be changed.

With the complex selection of options available, you may find it difficult to decide on the right type of annuity product for your circumstances. We can help by considering all your circumstances and using our in depth knowledge of the annuity market to find the best solution for you from every UK provider!

Annuties Explained: Some Types Of Annuity You May Consider.

FIXED AND VARIABLE ANNUITIES

Annuities that make payments in fixed amounts or in amounts that increase by a fixed percentage are called fixed annuities. Variable annuities, by contrast, pay amounts that vary according to the investment performance of a specified set of investments, typically bond and equity mutual funds.

Variable annuities are used for many different objectives. One common objective is deferral of the recognition of taxable gains. Money deposited in a variable annuity grows on a tax-deferred basis, so that taxes on investment gains are not due until a withdrawal is made. Variable annuities offer a variety of funds ("subaccounts") from various money managers. This gives investors the ability to move between subaccounts without incurring additional fees or sales charges.

GUARANTEED ANNUITIES

With a "pure" life annuity an annuitant may die before recovering the value of their original investment in it. If the possibility of this situation, called a "forfeiture", is not desired, it can be ameliorated by the addition of an added clause, forming a type of guaranteed annuity, under which the annuity issuer is required to make annuity payments for at least a certain number of years (the "period certain"); if the annuitant outlives the specified period certain, annuity payments then continue until the annuitant's death, and if the annuitant dies before the expiration of the period certain, the annuitant's estate or beneficiary is entitled to collect the remaining payments certain. The tradeoff between the pure life annuity and the life-with-period-certain annuity is that in exchange for the reduced risk of loss, the annuity payments for the latter will be smaller.

JOINT ANNUITIES

Multiple annuitant products include joint-life and joint-survivor annuities, where payments stop upon the death of one or both of the annuitants respectively. For example, an annuity may be structured to make payments to a married couple, such payments ceasing on the death of the second spouse. In joint-survivor annuities, sometimes the instrument reduces the payments to the second annuitant after death of the first.

IMPAIRED LIFE ANNUITIES

There has also been a significant growth in the development of Impaired Life annuities. These involve improving the terms offered due to a medical diagnosis which is severe enough to reduce life expectancy. A process of medical underwriting is involved and the range of qualifying conditions has increased substantially in recent years. Both conventional annuities and Purchase Life Annuities can qualify for impaired terms.


Whether you are considering investing a lump sum in a purchased life annuity or whether you are looking to make arrangements for creating income in retirement through annuity purchase, it is vital to shop around and find the best annuity and the best annuity provider for your circumstances. An independent financial adviser (IFA) will be able to assist you in reviewing your financial circumstances and direct you towards your best options.


The Open Market Option


Many people are unaware that they have the right to shop around for a different annuity provider, to provide them a pension income for their retirement. By shopping around, you could get a better annuity rate for your pension fund! This is known as an open market option and it can make a significant difference to your retirement income.

Only a third of people are maximising their retirement income using this option. So exercise your right today!

The process of shopping around is time consuming but it's well worth it. That's how we can help. Simply Retirement are Independent Financial Advisers who act as a broker. We represent you and will act on your behalf to investigate and find the best available annuity rate on the market.

You DO NOT pay us a fee

There will be no charge for us investigating your policy and you are not obliged to follow any recommendation we make.

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