An annuity is a guaranteed income payable for a set period or a lifetime.
Many people choose lifetime annuities as depending on the options selected at outset, they can, for example, provide a wide range of options in retirement, such as indexation against inflation, a continuing income for a second named life, a guarantee to pay out for a minimum amount of time after annuity purchase, or a return of a lump sum to the annuitant’s beneficiaries. However, it’s worth noting that once you have selected an option at outset it cannot be later changed.
When it comes to your retirement income options, we will analyse the open market to provide you with access the best rates or terms to meet your needs.
We can advise you on the various types of retirement annuity available to you along with other alternative retirement income options such as drawdown So, whether you want security or flexibility of income, you require access to an enhanced income to take your lifestyle or medical needs into account, or wish to ensure your loved ones are provided for in the event of your death we can help.
As annuity rates can change substantially and rapidly, there is no guarantee that when you do purchase an annuity the rates will be favourable. This could mean that your pension thereafter may be less than you hoped for.