You will be able to invest the bulk of your pension fund in annuities. These practical products offer you the chance to maximise your cash and ensure you have money to live from for the rest of your live.
Choosing Annuities
Annuities are available on the open market and this means you will not be restricted to any single provider. You can spend time shopping around and comparing products until you find an annuity that provides you with the very best deal.
? Don’t just choose the best annuity rate on the marketplace. You need to make sure you have looked at the type of annuity carefully to make certain it suits your lifestyle goals.
? For example you can invest in escalating annuities. These can increase annually in line with the Retail Price Index (RPI) and inflation.
? This can be a great way to maximise your pension fund and ensure it keeps pace with modern living.
? However you may find it difficult plan for your future when you are never sure what your annuity payments will be.
? If you prefer a more secure and dependable income then you could choose level annuities. These are available at some competitive rates and will offer the same agreed payments on your pension fund every year for the rest of your life.
? You may want to share your annuity payments with your partner. In this case joint annuities would be appropriate as these will continue to pay out to your partner (sometimes at a slightly reduced rate) if you were to die before them.
Finding the Best Rates
It is a good idea to get online if you are looking for the best annuities rates. There are some great deals that are only available over the Internet. This also offers you a fast way to compare products and ensure you are getting the best the market has to offer.
If you do not have access to the Internet at home then you can ask friends, family or neighbours if they may have web access you can use and you can also find Internet computers available at local libraries.
Pension annuities provide practical ways for you to organise your money when you retire. You will be able to find a great range of competitive products online and this is a fast and easy way to shop around.
