Pensions- Annuities
Looking for an annuity?
Buying an annuity means that you are exchanging your pension fund for an income. You can take your pension from age 50 onwards from a personal or steakholder pension and you don't have to stop work. You can also do this with an employer's occupational pension scheme and carry on working for that employer, but only if the scheme rules allow. However, the minimum age in which you can take your pension is going up from 50 to 55 in 2010.
4QuickMoney have selected a number of annuity providers who offer helpful advice for your needs.
C us 4 Annuities - Many people are unaware that they have the right to shop around for a different annuity provider, to provide them a pension income for their retirement. By shopping around, you could get a better annuity rate for your pension fund. This is known as an open market option and it can make a significant difference to your retirement income.
Minimum fund value: £20,000 (after taking any tax free cash)
Coverage: UK Nationwide
