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What is a Pension Annuity? - What is An Annuity?

When most people retire, they will cash in their pension fund and use this money to buy an annuity. This is a guaranteed income for life paid by an insurance company in exchange for a lump-sum payment. The income you receive will be based on factors such as your age, sex, lifestyle and state of health – in short, how long you are expected to live.

Open Market Option

Unfortunately, the vast majority of people simply buy an annuity from their existing pension provider, which can often mean that they do not get the best deal. It is vital that you shop around for the best annuity. Since 2002 all pension savers have had this right – known as the open market option. If you do not, you could miss out on 30 per cent extra annual income. To take a look at how simple it is, go to our "How it Works Page" Or Call is on 0800 652 7690

Take Guidance

It’s important that you are confident in your decision as to what pension annuity to buy, as potentially, you will live with the fruits of your decision for a long time. It’s also practically impossible to change your mind. Once you’ve chosen a pension annuity, that’s it. So it’s arguably one of the most important financial decisions you’ll make. Choosing the Best Annuity Our aim at Pension Annuity UK is to maximise your Pension Annuity whilst ensuring you are in control throughout the process. It’s important that you select the right options for you, as everybody’s requirements are different. At Pension Annuity UK you will be allocated a dedicated UK based annuity specialist. They will search a number of leading pension annuity providers to find you the highest income. Your Annuity Specialist will liaise with your pension provider and your chosen annuity provider to ensure that the process is as stress free as possible from start to finish.

What is an Annuity? What is a Pension annuity? What is my annuity worth? What can I get for my Pension annuity? For fast free answers contact us today.

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A.S. Life Limited Registered in England. Number. 07395932. Registered Office: 3, Verity Court, Middlewich, Cheshire, CW10 0G Pension Annuity UK is a trading style of A.S. Life Limited authorised and regulated by the Financial Conduct Authority. The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.