A local annuity adviser can keep your pension savings safe and maximize your retirement income. Once you have invested money into a pension, there are a host of options available to draw the income. These can be especially confusing. From Annuities to Income Drawdown, the choices on offer need an expert to take charge.
Do you know whether you want a fixed or rising income? Do you have the financial resources to make income drawdown a wise choice? Do you qualify for an impaired life annuity? There are lots of questions that need to be answered before you settle on your choice of annuity or income drawdown.
Use a local annuity adviser that is independent, which means he/she can give unbiased advice with your best interests at heart. Look for a local independent financial adviser to give you that edge when it comes to increasing the value of your pension savings. Independent financial advice nowadays means that the IFA cannot just sell you the product that attracts the most commission. They must have very good reasons for choosing one product over another and will have compliance reviews to ensure that their recommendations are appropriate and in the best interest of their clients.
Remember that getting an annuity on the open market could make up to 40% difference to the income you retire with. Make sure you get the best income you can whilst getting the features and benefits you need from your annuity purchase. Talk to your adviser about death benefits, about single or joint life, about ensuring you get an income that is not left behind by other products in the future.