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This is something that is far more involved than simple annuity rates, how complex depends on the fund size.
It will cost you but I would suggest speaking to your financial adviser, you don’t want to mess up on something like this.
As I've got a small personal pension fund to do something with soon I was hoping to be able to view rates for different companies.
In the old days the figures were published in the FT. Is this still the case?
This is something that is far more involved than simple annuity rates, how complex depends on the fund size.
It will cost you but I would suggest speaking to your financial adviser, you don’t want to mess up on something like this.
Yes, I know it's as you say but I would simply like to view rates for each company and I wondered if they were still available.Originally Posted by Crouchy
It's not my only pension and just something to play with as it were.
Since the pension rules change (freedom), annuities have also changed. Far more choices and options than previously and a set of tables wouldn’t really illustrate properly.
I thought annuities were dead in the water since the pension rules changes? It's not something I would have even considered to do with my pension pot other than to exclude it. I'm not an expert though so interested to hear the comments from those who are.
There aren't many companies (if any) that will take your purchase money without some form of regulated advice being in place. Future litigation risk is just too high.
I thought the whole idea of pensions was to provide an annuity, a (normally) monthly payment set at an agreed actuarial amount.
Believe it or not, I briefly worked in pensions and insurance (assurance?) many years ago.
Nothing much has changed in that trying to get a straight answer to a straight question is near impossible
An IFA is the best person to talk to, but have you considered moving it in to SIPP and when you hit 55 simply drawing down cash when you need it?
Plus the first 25% is tax free
Whoever does not know how to hit the nail on the head should be asked not to hit it at all.
Friedrich Nietzsche
No- whilst an annuity still has a place in pension provision particularly for the risk averse, drawdown is the way forward for lots of people- keeping your money invested throughout retirement.I thought the whole idea of pensions was to provide an annuity, a (normally) monthly payment set at an agreed actuarial amount.
Believe it or not, I briefly worked in pensions and insurance (assurance?) many years ago.
Nothing much has changed in that trying to get a straight answer to a straight question is near impossible
He may not need to move it as some of the more recent personal pensions support drawdown. His Personal pension is also likely to give 25% tax free.An IFA is the best person to talk to, but have you considered moving it in to SIPP and when you hit 55 simply drawing down cash when you need it?
Plus the first 25% is tax free
Agree he should be speaking to an IFA- first meeting is usually free.
The money advice service have a calculator that will return rates from the big insurers:
https://www.moneyadviceservice.org.u...e/your-details
Buy the FT then, then you’ll have your straight answer.Nothing much has changed in that trying to get a straight answer to a straight question is near impossible
Thanks, just what I wanted
with the recent changes to pension rules drawdown has become more popular but there is still a place for annuities. they also.benefitted from the shake up and the rule change i find most useful is the potential to include guarantees up to 30 years (up from 10).
horses for courses
This is what my FA advised me to do, said the returns on annuities are just not comparable.
Yes, I bet the ongoing fees on drawdown offer a better return to a FA.
There is still a place for both annuities and drawdown and I suspect for larger pots a hybrid of the two.
There are only ongoing fees if you choose to have ongoing advice. You could choose not to in both cases.Yes, I bet the ongoing fees on drawdown offer a better return to a FA.
There is still a place for both annuities and drawdown and I suspect for larger pots a hybrid of the two.
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