An annuity is a product which provides the way in which you receive an income for the rest of your life when you retire.
Here’s a piece of advice we will give you for free…
never, ever, EVER just take the annuity offered to you by your pension provider.
By law, you are allowed to (and we strongly encourage you to) take up the ‘open market option’.
This means that you can ask other providers how much they are willing to pay you each month for the rest of your life.
It is essential that you see a financial adviser (even if it doesn’t turn out to be us) to get advice on your annuity because it could meaning receiving (say) an extra £5 a week in income, which translates as £3,900 over 15 years.
We think it’s better in your pocket than theirs.