Annuities
An annuity is a way of ensuring you have a guaranteed income for the rest of your life, no matter how long you live. It also means your income is protected against inflation, affords little or no investment risk, and can provide an income to other family members after your death. We take time to find the right annuity for your circumstances in order to maximise your income.
A conventional annuity contract is the standard package that many people purchase with their retirement fund. Additional benefits can be added to the contract such as inflation-linked increases, or spouse’s benefits, but these will incur additional costs which will affect your initial level of income.
Depending on your health and lifestyle you may be able to purchase an enhanced annuity which will give a higher rate of return, indeed contracts may offer up to 30% more income than a standard annuity.
You may also be able to take advantage of the open market option to purchase an annuity. This means you have the freedom to explore the entire market to find a contract which, usually, yields a higher annual return than staying with your existing provider.
The income you receive in an annuity is set for life so it is crucial that you receive the right advice before entering into a contract. Our team has many years of experience in advising clients on annuities.