When you get closer to reaching that magical age in your life where you have decided to retire, you start thinking about your options for retirement. There are a myriad of options available to you and understanding or negotiating these choices can be a bit of a minefield. This article looks at those different paths you have if you have been saving in a money purchase pension scheme.
Get Annuity compares annuity rates from all of the UK’s annuity providers and helps get you the best rate based on your personal circumstances.
When approaching retirement, there is an important question that is likely to come up when purchasing an annuity... should I choose a level or escalating annuity?
Care fee annuities, also known as Immediate Need Care Annuities, are when you pay a single premium to an insurer who in return will pay, tax-free, your immediate care needs to a registered care home, for the rest of your life.
This ensures that you don’t run out of capital and avoid being in a position to afford to pay your care fees.
Are you trying to understand what factors affect the annuity rate you can expect to receive? We have listed 5 factors that can affect what annuity rate a provider is likely to offer you.
Many people aren’t exactly sure what an annuity is, how they work or why you need one. If you’re in the same boat, then you’ve come to the right page. After spending years putting your money into your pension pot, you want to know what actually happens when you retire. Many people think you just simply withdraw your money on your retirement day and off you go, but it isn’t as easy as that, nor is it a wise option.
There is no hiding from the fact that annuity rates are offering very little return for retirees in the current climate. One such option might be to consider a short term or fixed annuity in the hope that annuity rates recover in the future.
In the current market of low annuity rates, retirees are looking for ways to get the most for their pension fund. Annuity rates were at an all time low in June 2012 and have recovered only marginally. So what options are there for you and how can you boost your retirement income? Well, one such way is by taking out an enhanced annuity.