Annuity Companies

Annuity Providers

There are 10 key annuity players in the UK, so if you pension is not with one of the following companies, then you're not going to get the best the rate.

Annuity Markets

Even if a pension is with one of the leading annuity companies, it does not mean the best annuity rate will be available. The big players are competitive in different markets;

• Conventional Annuity (is this what you need?)
• Postcode Pricing (do you live in the South? Rates are higher in the North)
• Impaired Life Market (do you suffer from ill health?)
• Investment Linked (would this be a better than a traditional annuity?)
• Purchased Life (funds outside of a pension)
• Fixed Term (circumstances set to change? Deteriorating health, impending death of a dependant)

Pension Providers

There are in excess of 20 companies currently offering pensions and over the last 30 years there were many more that have come and gone. The chances are that your pension is not with the best annuity provider, so you must shop around for the best deal. You have a right to do this under the Open Market Option, which exists in the majority of pension plans.

Where to buy an annuity

So, where do you start? You could go to each of the annuity companies detailed here. However, that's going to take a lot of time. Furthermore, do you know exactly which options or even which type of annuity you require?

It makes sense to contact us. We will approach all the relevant annuity providers to obtain the best annuity rate, after giving you sound advice on the options and types of annuity available. In many cases we can negotiate the price of an annuity and so increase your income (you may not be able to do the same). We can help you with the application form. We can liaise between annuity provider and pension provider.

What does this cost?

We are normally paid by the annuity provider, so you don't have to pay us anything. This comes out of the value of your pension and even if you go direct to the annuity provider they will keep this payment for themselves. We may be able to offer discounts.