Tips For Buying Annuities
By Get Annuity – September 2013
http://getannuity.co.uk
Introduction
• Annuities are a retirement income that is
offered in exchange for your pension savings
by an insurance comp...
5 factors that affect your annuity rate
• 1. POSTCODE
• Where you live can not only affect car
insurance, but also the rat...
5 factors that affect your annuity rate
• 2. YOUR SAVINGS
• Seems pretty obvious, but the bigger your
pension pot, then th...
5 factors that affect your annuity rate
• 3. YOUR HEALTH
• If you are in poor health, you may be entitled
to an enhanced a...
5 factors that affect your annuity rate
• 4. GOVERNMENT GILTS
• The current low interest rates on annuities can
be mostly ...
5 factors that affect annuity rates
• 5. OPEN MARKET OPTION
• Just like car insurance, insurance providers
offer different...
Summary
• Always shop around with your Open Market
Option
• Compare annuity rates or speak to an IFA
• Try http://getannui...
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Tips for buying an annuity

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See what factors can affect your annuity rate.

Published in: Economy & Finance, Business
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Tips for buying an annuity

  1. 1. Tips For Buying Annuities By Get Annuity – September 2013 http://getannuity.co.uk
  2. 2. Introduction • Annuities are a retirement income that is offered in exchange for your pension savings by an insurance company. • Typically, they offer you a guaranteed income in return for those savings regardless of the age that you live to. • Annuities are the most popular form of retirement income.
  3. 3. 5 factors that affect your annuity rate • 1. POSTCODE • Where you live can not only affect car insurance, but also the rate offered to you for an annuity. • Better rates will be offered in areas of lower mortality. EG. A higher rate offered in Glasgow over Knightsbridge, London
  4. 4. 5 factors that affect your annuity rate • 2. YOUR SAVINGS • Seems pretty obvious, but the bigger your pension pot, then the more retirement income you will receive but you may also receive a slightly better rate. • With a large pension pot, it is still important to shop around as the rate offered can still affect your retirement lifestyle.
  5. 5. 5 factors that affect your annuity rate • 3. YOUR HEALTH • If you are in poor health, you may be entitled to an enhanced annuity, which will offer a higher rate based on the lower likelihood of a long life expectancy. • Over 70% of retirees are currently eligible for an enhanced annuity.
  6. 6. 5 factors that affect your annuity rate • 4. GOVERNMENT GILTS • The current low interest rates on annuities can be mostly blamed to the low yield on Government GILTS. • Insurance companies buy GILTs to fund annuities, hence the knock on effect. • High GILT rates = higher annuities.
  7. 7. 5 factors that affect annuity rates • 5. OPEN MARKET OPTION • Just like car insurance, insurance providers offer different rates. • Shopping around for the best rate is crucial to making the most of your retirement income. • Always seek advice from an IFA.
  8. 8. Summary • Always shop around with your Open Market Option • Compare annuity rates or speak to an IFA • Try http://getannuity.co.uk for more details and to compare rates.
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