Finding out more about your annuity options

As committing to an annuity is very important decision, we have produced a series of guides for you to download which will help you to understand more about the options that are open to you when considering buying an annuity. We hope that you find these guides of use when considering, with your financial adviser, which options are right for you.

Guide 1 - Shopping around for your annuity

Everybody has the right to take the money which they have built up during their working life and use it to shop around for the best deal for their retirement income. This is known as the 'Open Market Option', our guide takes you through the benefits that can be gained by shopping around.

Guide 2 - Alternatives to annuities

Not everyone takes an annuity immediately they retire, with some deciding to keep their pension money invested after taking any tax free cash and then draw the funds they need as an income via an 'Unsecured Pension'. You can find out more about the advantages and disadvantages of this in our guide.

Guide 3 - Increasing your annuity

Not all annuities are the same and taking you health and lifestyle into account can make a significant, positive difference to your retirement income that will last you for the rest of your life. Our guide shows how you can increase your annuity income by shopping around and asking providers to take your health and lifestyle into account.

Guide 4 -Delaying your annuity purchase

There are a number of factors that you need to weigh up with your financial adviser when deciding to commit to an annuity as once the decision is taken it cannot usually be reversed. This guide takes you through the factors you need to consider and, particularly, the costs of delaying your annuity decision.

Guide 5 - Personalising your annuity

Many people are be tempted to go for the highest possible annuity income, but this can ignore important protections that can be added such as money for your spouse in the form of a regular income or lump sum, plus annuities can also be protected against inflation, our guide explains more.