Pension Annuity Purchase at Retirement

Retirement can be a time of mixed emotions. For many people it can be an unsettling time whilst others embrace the freedom and opportunity that retirement brings. Either way it is vital that you are guided through the myriad of choices to ensure you choose the correct option for you at retirement, thus ensuring you maximise your income and secure your long term financial future.

Here at Verity Wealth Management we specialise in helping all clients (both new and existing) obtain the best possible and most suitable annuity rates at retirement, which may not incidentally come from your existing pension provider.

Your Annuity Purchase is one of your Life’s major financial decisions and one you do not want to get wrong; once the annuity purchase is made, the income you receive from the option selected is with you for the remainder of your life.

Many people are unaware that they can choose their annuity provider at retirement by utilising their “Open Market Option” this allows us to shop around on your behalf to see if a better alternative income is available to you when compared to the pension your existing provider is currently offering. Depending upon your current lifestyle and health situation, increased annuity payments are available for many reasons, these can include; smoking, whether or not you have previously been in hospital, or even depending on any prescription drugs you may currently be taking or have taken in the past.

As we specialise in helping people review their options at retirement, why not ask us to help you look at all your retirement options? Annuity Campaign Poster

We have listed below some examples of our clients where we have been able to obtain increased annuity payments on their behalf from a number of providers, together with details of the percentage increase in rates we actually achieved for them:

Clients – One

Male aged 64 – Female aged 63½

Male has suffered from - Hypertension, Cholesterol & Enlarged Heart

Female has previously received Chemotherapy treatment

We obtained an uplifted annuity on their behalf of 27.8% compared to what their existing provider offered.

Clients – Two

Male aged 63 - Female aged 62

Male is now fully recovered from a previous stroke but suffers currently from Blood Pressure problems and a Sticky Heart Valve

Female suffers from Asthma and a Hiatus Hernia

We obtained an uplifted annuity on their behalf of 35.16% compared to what their existing provider offered.

Clients – Three

Male aged 64 – Female aged 59

Male currently suffers from High Blood Pressure

We obtained an uplifted annuity on their behalf of 4% compared to what their existing provider offered.

Clients – Four

Male aged 59 - Female aged 56

Male is a Smoker

Female suffers from High Blood Pressure, MS, Underactive Thyroid, Arterial Fibrillation

We obtained an uplifted annuity on their behalf of 32.5% compared to what their existing provider offered.

Clients – Five

Male aged 60 – Female aged 61

Neither client suffered from any health condition or smoked

We obtained an uplifted annuity on their behalf of 4.56% compared to what their existing provider offered.

Even if you do not have any medical conditions it is still possible that better annuity rates can be obtained by shopping around and using an Independent Financial Adviser to research this on your behalf.

The value of an investment and income from it may fluctuate with investment returns and is not guaranteed and you may not get back the full amount invested.

As Independent Financial Advisers, we have access to a wealth of research from many various sources. By using our extensive knowledge of the Retirement Income market place; we may be able to increase your pension annuity income in retirement by obtaining a better pension income through changing provider or even staying with your current provider but providing them with additional information in order to assess your individual circumstances.

You have nothing to lose and everything to gain, why not call Verity Wealth Management to see what we can do to increase your pension annuity.

Contact us to discuss the possibility of increasing your pension income in retirement

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Stephanie Pickering

Chartered Financial Planner


Areas we cover

We cover Tyneside, Wearside and Durham and are happy to meet you at home, office or place of work as you prefer.

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