Annuity Rates

Life expectancy has increased considerably over this century therefore once you reach retirement in is important to get the best annuity rates from your pension pot, this is because the income from your annuity will probably have to last you on average over 10 years.

The majority of annuities in the UK are provided by the big Insurance Companies such as Prudential, Aviva, Standard Life, AXA and Legal and General to name a few. They all have different annuity rates for different ages, sex and postcode. Because of this it is very important to shop around a few months before you retire. There was a recent article that was published in America that stated that the British spend more time on Christmas shopping than they do on shopping for the best annuity rates.

Shopping around for your annuity is not that difficult and generally perhaps the best way is to consult the advice of an indpendent financial adviser, he or she will then research the whole of the market including some of the annuity providers you probably have not heard of. If you can it is perhaps also better to find a firm of  independent financial advisers that specialise in annuities. There are many such firms an just typing “annuity rates” into Google should bring up a reasonable list of specialist firms.

It is also important to ensure that you check to see if you may qualify for enhanced annuities as these can give a significant increase to your annuity income.

Annuity Supermarket recommends a specialist annuity independent adviser Retirement Solutions and you can reach them on 0800 043 6701

Annuity Quotes

If you are retiring soon and you have recieved your wake up pack from your pension provider telling you what benefits the pension will provide for you, I guess you now need to find some annuity quotes from the open market.

Yes! you can buy your annuity from your current pension provider but you will probably find that if you go to the open market and look for the best annuity rates that you will get a much better rate. It can be a quite daunting experience going to every annuity provider and asking them for annuity quotes. Perhaps the best suggestion is to go and visit an annuity supermarket and ask them to provide annuity quotes.

Annuity Supermarkets will generally be whole of market, however, some only use a panel of annuity providers, this is because they will get enhanced commission rates by selecting a small panel. Make sure you choose an independent whole of market annuity intermediary to provide your annuity quotes.

Also make sure that the intermediary you choose asks questions about your lifestyle and health, this is because in many instances you can qualify for enhanced annuities. Generally enhanced annuities will pay around 20 to 40% more income, this is because you are likely to have life expectancy that is lower than the average.

If you want to get annuity quotes from a specialist independent whole of market annuity intermediary then go to or call 0800 043 07125.