Pension Annuity
If you are approaching retirement age you should be starting to consider how you are going to make the most of your pension.
You will want to Maximise your income after you retire. This is where Annuities come in.
What is lifetime annuity?
Buying a lifetime annuity means that you are converting your pension fund into an income paid for the rest of your life.
Your pension provider will usually offer you a lifetime annuity, but you can shop around to see what rates or arrangements other insurance companies offer - this is called the 'open market option'.
You will usually need to buy a lifetime annuity if you have on of the following pensions:
- Personal Pension;
- Stakeholder Pension;
- Group Personal Pension (GPP);
- Most AVC and FSAVC plans;
- Section 32 policy;
- Retirement Annuity Contract.
If you have an Occupational Money Purchase Pension, the trustees of the scheme may buy your annuity for you. However, if you feel that the scheme's annuity choices do not suit you, you can shop around yourself for a better annuity using the 'open market option'
To enquire about Pension Annuities Contact us on:
E-Mail Address: info@clarkeandhood.co.uk
Telephone Number: 01769 574 674
Fax Number: 08442 098 515