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 annuitysupermarket.com or call 0800 043 07125.
