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There are so many annuities to choose from with many different options. Hopefully, the following 'decision tree', produced by the Financial Services Authority, will guide you closer to the annuity that suits you best. But remember to call Bob Hulström at huntsifa.co.uk as I can help you through the maze! Call 0800 848 8620 |
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Do you have a wife, husband, or other partner? |
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Whatever other annuity options you choose, You should consider a joint life last survivor annuity. Follow the arrows to check the other options. |
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Will this annuity be a major source of you retirement income? |
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You could consider a level annuity but be aware that, because of inflation, it will buy less and less as time goes on. Follow the arrows to check the other options. |
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Do you have a pension fund of more than £150,000 to buy this annuity? |
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Consider:
· an escalating annuity
· an RPI-linked annuity
· a with-profits annuity |
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Would you be comfortable with an income that could fall as well as rise? |
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Consider:
· a with profits annuity with 0% ABR
· phased retirement |
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Consider:
· a with-profits annuity
with a higher ABR
· a unit linked annuity
· an unsecured pension |
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Whichever annuity you choose, if you are worried that your pension fund will be 'wasted' if you were to die soon after retirement (when the annuity would not have paid out much), consider opting for a guarantee period |
