By shopping around to find the best annuity rates, retirees can receive up to 35% more income in retirement. That is the message from the Financial Services Authority (FSA), the government body responsible for protecting Briton’s consumers’ personal finance interests.
Did you know that, even in today’s marketplace, 65% of retirees still purchase their annuity from the provider they also saved their pension with? (Source: Reuters)
This misguided approach and the failure of two-thirds of Briton’s to exercise the open market option is costing the country’s retirees millions in lost income as they settle for the options that are not the best deal available to them.
This website is dedicated to educating Briton’s on their options available at retirement in the hope that more people will engage their open market option and secure the maximum income from their pension pot.
Quite simply, purchasing your pension annuity is one the most important financial decision you will ever make – it will dictate your income levels in retirement and, as such, the sort of lifestyle you will have access to.