No Nonsense Annuities Offer Advice on How to Choose an Annuity : RushPRNews - Newswire & Global Press Release Distribution

Bookmark and Share

No Nonsense Annuities Offer Advice on How to Choose an Annuity

October 24, 2013

No Nonsense Annuities Offer Advice on How to Choose an Annuity

London, UK (RPRN) 10/24/13 — If you are in a money purchase pension scheme, then you may well be thinking about annuities. The money you have saved up in your pension fund can be used to purchase an annuity, which guarantees to provide you with an income for your retirement.

Do You Need An Annuity?

If you have a personal or stakeholder pension, then you have to make a decision on your annuity. If you have a workplace money purchase or stakeholder pension scheme then the trustees may make this decision for you, though you have the right to choose it yourself.

If you’re not sure, then speak to your pension provider or a financial adviser.

Choosing a Provider

You can buy an annuity from your pension provider, but you have a legal right to buy your pension provider from any provider. While many people simply do it anyway, they may be missing out on a great deal. The key is to shop around.

You should get information from your pension provider around four to six months before your retirement date, so you can start to prepare.

Your Priorities

Choosing an annuity can be difficult, as you’re buying a fixed income for the rest of your life. However, there are a few questions that you can ask yourself to help you figure out what your priorities are, and which annuity you should go for. They include:

-          Do you need income for just you, or will you have dependants?

-          Are you in good health? How long do you expect to live?

-          Do you have any income from other sources?

-          How flexible do you want your income to be?

-          Do you want to provide an inheritance?

Your Annuity Rates

The annuity rate that you’re offered will be dependent on certain factors, such as age, health, your life expectancy and how much money you have in your pension pot.

Types of Annuity

If it’s just you that you’re buying a pension for, then you need a single lifetime annuity, but if you want someone else to get an income after your death, then you need a joint lifetime annuity. Some annuities only pay out half to the surviving partner after your death, so if you want them to receive more, you should make sure that you choose an annuity with a higher pay out.

You can also choose how you want your income. You can choose between a level and increasing annuity. A level annuity pays out a set amount for the rest of your life, and an increasing annuity gives you a bigger amount each year. An increasing annuity helps to protect you from inflation, but it does mean that your income to begin with is less than what it would have been had you gone for a level annuity.

Financial Advice

You should seek financial advice from a professional adviser like No Nonsense Annuities so you can really get a clear view of what would be the best course of action for your retirement.

Media Contact Name: James Raglan
Main image credits:
Click here to see all news from this author/company


RUSH PR NEWS newswire and press release services at / Anne Howard

Content- Legal Responsibility - All material is copyrighted - You may repost but you MUST link back to the original post on your page and acknowledge Rush PR News as the news source. Rush PR News is not legally and/or morally responsible for content of press releases, opinions expressed or fact-checking.

Rush PR News cannot be held legally responsible for material published and distributed through its newswire service or published in its press-room and therefore cannot be sued for published material. Third-party must be contacted directly to dispute content.

Rush PR News is not the contact for material published.


Co-Founder of OXYwater Sentenced for Wire Fraud and Money Laundering

Washington, DC 10/01/15 · A co-founder of Imperial Integrative Health Research and...

Creative Bioarray Improves Tumor Cells Quality for Life Science Researchers

New York, NY 10/01/15 · - Creative Bioarray ( ), an innovative biotechnology company who...

Wake up your event audience with Livecube’s latest engagement technology

NEW YORK 09/30/15 · Livecube transforms how people connect and share ideas...

Wiknix: tech magazine provides latest gadgets news

New York, NY 09/26/15 · It can be hard to know who to...

New Farm-to-Table Chef Joins Canada's Favourite Spa

GRAFTON, ON 09/25/15 · Ste. Anne's Spa ( has just hired Jeffrey...

Moment Soundbar brings family together with Karaoke home entertainment

Los Angeles, Ca 09/17/15 · With the rising cost of family outings, more...


Los Angeles, Ca 09/16/15 · Moment is the world’s first compact soundbar that...

Moment, the minimalist soundbar to replace all soundbars

Los Angeles, CA 09/15/15 · Moment™: A case of less is more. Moment,...

Join Moment’s Indiegogo crowdfunding campaign on September 22

Los Angeles, Calif. 09/04/15 · Plug and Play Karaoke sound bar with DTS...

ASTEP Launches Latest Corporate Lecture Series in NYC

NEW YORK, NY 09/01/15 · PwC, EY, LinkedIn, Hogan Lovells and Cisco among...