Enhanced Annuities UK
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Are you looking for enhanced annuities. Many people assume that they have to buy an annuity from the company that has held their pension. This is not the case, as you have the right to shop around for the best pension annuity rates when you retire – it’s called the Open Market Option (OMO). You will probably only get offered enhanced annuities if you shop around.
Worryingly, figures from the Association of British Insurers (ABI) show that 61 per cent of people who bought an annuity in 2007 did not shop around in this way. Using an independent financial adviser and an annuity calculator you could see for yourself if you can get enhanced annuity rates.
We generate hundreds of enhanced annuities quotes every month. There are significant differences in the performance of the best and worst pension annuities rates and the advice of an independent financial adviser should be sought to ensure you get the best annuity rate.
Use the annuity calculator to see if you can get a better annuity rate than your existing pension provider. It will allow you to calculate annuity rates and also pension annuities calculator
You convert your pension fund into a regular income that will last as long as you live. The income is taxable and the amount that you get each year will depend on the size of your fund, the pension annuity rates the annuity company offers, your gender, age and health, and the type of annuity that you opt for. You are allowed to take up to a quarter of your pension fund as a tax-free lump sum and most convert all of your remaining pension fund into an annuity before the age of 75.