If you are looking for an income annuity then you could get 30% more by using using the open market option to see if you qualify for enhanced income annuities. The open market option is your right to shop around with your pension fund to find the best income annuity.
Income annuities from the open market option
The open market option allows you to search the entire annuity market to see if you can get better income annuities rates. It is your right to do this, you do not have to buy your annuity with the company that you saved your pension with.
The benefits to you are that if you do manage to find better income annuity rates then you will be much better off in retirement. You may also find that you qualify for enhanced income annuities which can pay as much as 30% more if you have lifestyle or medical conditions. You do not need to be seriously ill to qualify for these enhanced income annuity rates, you can qualify for instance if you smoke or take prescribed medication for things like high blood pressure.
Our advice here at annuitysupermarket.com is to seek advice from an independent annuity specialist and let them do the research for you. They will scour the entire market and find you the best income annuity rates, including enhanced rates if you qualify.
