Annuity rates comparison – the key to locating the best annuity rates
With so many pension fund managers jostling for position in the annuities market these days, each of them offering different annuity rates, it is essential to be aware that finding the best annuity rates can make a marked difference to your final income, in retirement.
Your annuity rate fixes the level of pensions income you receive from your pension pot, the pensions savings you have built up over your working life. Your annuity purchase is a once-off choice and cannot be altered, once it is in place.
Let Principle First show you the best annuity rates by making an annuity rates comparison. Contact us online for a pension annuity quote or ring 0800 678 5929 today.
A survey has shown that, with a pension pot of £100,000, an annuity rates comparison between the ’household name’ pension companies revealed best annuity rates that would give a pension of £5,628 per year, while the lowest annuity rate, taken on the same day, would give just £4,632 per year.
In this case, the annuity rates comparison would have added almost 20% – or £996 per year – to your pensions income.
Annuity rates comparison – your rights under the open market option
Prior to making that vital purchase of your annuity, therefore, you are wise to shop around, making an annuity rates comparison with the help of a qualified, independent financial adviser.
Only an independent financial adviser is able to use his ‘whole of market’ approach to locate the best annuity rates, and then obtain the annuity rate and type that is best for you.
Your adviser can also recommend various specialised annuities, offering higher annuity rates. As a smoker or if you have a mild medical condition you may qualify for an enhanced annuity, while those with more serious health problems may be eligible to obtain an impaired life annuity.
Making an annuity rates comparison is not simply an option, it is your right under the law. This ensures that you are not limited to accepting the annuity rates offered to by your pension provider, i.e. the company that has managed your pension savings.
Taking pension advice from a qualified and independent adviser is the safest way to make a pension annuity comparison. This pension annuity comparison can and indeed should look at the whole market, to find the best annuity rates. This is why your right in this regard is known as your ‘open market option’, or OMO.
Let Principle First compare annuity rates available now, to show you the best annuity rates! Contact us online for a pension annuity quote or ring 0800 678 5929 today.
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