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Chartered Financial Planners

Chartered Financial Planners - Independent

Tel: 01332 416585

Chartered Financial Planners

Chartered Financial Planners - Independent

Tel: 01332 416585

Annuities

A lifetime annuity is one way of taking benefits from a pension plan. An individual receives an income paid for life at least annually from either the company they worked for or from an insurance company.  A lifetime annuity is a contract between an individual and an insurance company.  An individual exchanges a lump sum for a regular income.  The insurance company converts the lump sum into an income.

An annuity can be purchased on the open market or can be purchased from the existing provider who also provides the pension plan.

Your pension provider is obliged to tell you that as well as buying an annuity from the company with whom you have saved your pension, you can take the fund to another company and buy it from them.

It is highly likely that you will be able to get a much better pension by moving the fund.

Options to Consider

Inflation

It is possible to add indexation options to annuities to ensure that the income paid maintains its buying power as time goes on.  

Joint Annuity

If you have a partner, do you want the pension to continue after your death until theirs, and if so, do you want the level to be maintained or reduced?

Ill Health

An individual in poor health may receive an increased income as opposed to an application from someone in better health.  We will ensure that if you have any medical conditions that a full medical questionnaire is completed with you to obtain the best annuity on the open market on your behalf.

Am I Taxed On This Income

The company paying the annuity takes off basic rate tax from the annuity payments made. 

Budget Reforms 2014

The budget reforms have made it more flexible for you to take your pension benefits.

Contact us to find out more about pension planning.

What our customers say

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Ginny has been thorough in establishing my personal circumstances and financial commitments and my attitude to risk. I would highly recommend her friendly, expert services.

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Anne, Nottinghamshire