UK Annuities: FINANCIAL CONDUCT REGULATED SITES • QUALIFIED, TRUSTWORTHY ANNUITY ADVICE

Centralising Your Pension Annuity Search

BUT FIRST, SOME IMPORTANT INFORMATION THAT COULD BOOST YOUR RETIREMENT FINANCES Have you taken out a credit or store card, mortgage, secured loan, unsecured loan or hire purchase agreement in the last 10 years? If you have (or have had) a mortgage, loan or credit card with providers such as Barclaycard, Abbey, Santander, Littlewoods, MBNA, Halifax, HSBC, HBOS, Lloyds, Natwest, RBS or in fact any other credit provider, you may be able to reclaim up to £15,000 if you were sold PPI insurance - in most cases even if you have lost the paperwork. Learn more about PPI Claims now!


annuity comparisons Visit Open Annuities

You could increase your annuity by thousands. Make sure you recognise the best annuity advice when you get it. The more information about annuities you have, the more able you will be to recognise the best annuity advice when you receive it.
Visit Open Annuities Financial Services Register Number 530750


Annuity Plan Visit Pension Annuity Plan

You may be able to secure several thousand pounds more over your lifetime from annuity providers than your current pension provider. Many are unaware of this very important information. The more information you have, the more able you will be to recognise the best deal when you see it.
Visit Pension Annuity Plan Financial Services Register Number 530750


annuities plan Visit Annuities Plan

All fund sizes welcomed. Why should the annuity buyer be careful? Buying from your pension provider isn't always necessarily the best idea.
Visit Annuities Plan Financial Services Register Number 530750


annuity comparisons Visit Pension Annuity Planner

This company may be able to increase your standard pension annuity through enhanced annuities.
Visit Pension Annuity Planner Financial Services Register Number 530750


annuity comparisons Visit Annuity Base

Using specialist annuity industry search software, an FCA registered Independent Financial Adviser will query top annuity and annuity alternative providers' databases to help you compare and choose which one is the best for you.
Visit Annuity Base Financial Services Register Number 530750


annuity comparisons Visit The Enhanced Annuity

Specialists in enhanced annuities. It is estimated that up to 40% of the UK population could boost their pension annuity income with an "enhanced annuity".
Visit The Enhanced Annuity Financial Services Register Number 483817


annuity comparisons Visit Annuity Comparisons

Why would you use an automated annuity comparison website when an authorised, qualified pension consultant can advise you which is the best annuity for free with no obligation to buy? There are many reasons why you should not trust your future income to comparison tables on faceless sites. In some matters you need absolute certainty.
Visit Annuity Comparisons Financial Services Register Number 483817


annuity comparisons Visit Annuities Extra

Pension annuities for those of us who are not in the best of health. If you've a health problem, no matter how small or insignificant you think it is, you'll stand an increased chance of a higher annuity income.
Visit Annuities Extra Financial Services Register Number 483817


annuity comparisons Visit Simple Annuities

Finding an annuity does not have to be difficult. Pension annuity retirement finance experts with vast experience of annuities are waiting to help you. Compare pension annuities and annuity alternatives now.
Visit Simple Annuities Financial Services Register Number 483817


annuity comparisons Visit The Female Annuity

1000's of women retire every week in the UK. Compare annuities for women and their alternatives.
Visit The Female Annuity Financial Services Register Number 460094


annuity comparisons Visit Annuity Pathway

Your simple pension annuity journey. How you might take the wrong annuity route and lose the annuity income that is rightfully yours.
Visit Annuity Pathway Financial Services Register Number 460094


annuity comparisons Visit Just One Bite Annuities

How a pension annuity will affect your life. You will only get one bite of the annuity apple. Once you buy an annuity, there's no going back.
Visit Just One Bite Annuities Financial Services Register Number 460094


annuity comparisons Visit Pension Annuities Plus

Your annuity income may increase if you have had certain conditions such as high blood pressure, asthma or high cholesterol. This is also true for smokers and for those who have worked in certain occupations. Get pension annuity comparisons now.
Visit Pension Annuities Plus Financial Services Register Number 483817


annuity comparisons Visit Annuity Answers

Why should the pension annuity buyer beware and why do so many retirees ignore a much bigger annuity income? Compare annuities now.
Visit Annuity Answers Financial Services Register Number 483817


annuity comparisons Visit Smokers Annuities

Your lifespan as a smoker and your annuity options. We're sorry to be blunt, but you most likely already know that smokers, in general, have shorter lifespans than non-smokers. Of course annuity providers are well aware of this unfortunate fact of life. Increase your annuity now.
Visit Smokers Annuities Financial Services Register Number 483817


annuity comparisons Visit Annuity Key

Unlike some companies, all fund sizes are accepted. The Retirement Income Customer Hotline Limited may be able to boost your pension income by more than 40% compared with your current pension provider's offering.
Visit Annuity Key Financial Services Register Number 460094


annuity comparisons Visit Buy an Annuity

Buying an annuity from your pension provider isn't always necessarily the best option! You might be able to secure several thousand pounds more over your retirement from annuity providers than your current pension provider.
Visit Buy an Annuity Financial Services Register Number 154622


annuity office Visit Annuity Office

We recognise our annuity clients as individuals, which is why we deal with every case on a one-to-one individual basis. Did you know for instance that your income may increase if you have had certain health problems such as high blood pressure, high cholesterol or asthma? This is also true for smokers and for those who have worked in certain occupations.
Visit Annuity Office Financial Services Register Number 483817


ANNUITIES: Annuities News


Pensions and Annuities Research:

UK Heading for Pensions "Dark Age"

Pensioner poverty set to rise with 64 percent of UK workers looking to rely on state pension in retirement as occupational pension scheme membership falls

UK comes out ‘bottom of the pile’ in G7 for state pension provision

AXA support calls to review structure of state and occupational pensions

‘Living on a state pension’ experiment launched to demonstrate consequences of current retirement inertia as part of My Budget Day 2009

State pension provision in the UK lags behind its G7 counterparts and needs to be reformed in order to avoid today’s workers living in ‘pensioner poverty’, research from AXA reveals today.

In the UK, the state pension is worth just 31 percent of the nation’s average earnings - less than half that of the Italians who retire with a state pension worth 68% of average earnings. Despite this, research from AXA found that some 64 per cent of UK residents intend to rely on their state pension in retirement as more and more workers move away from occupational pension schemes.
Steve Folkard, Head of Savings and Pensions Policy at AXA said: “There has to be a concerted, co-ordinated effort to make sure that people are adequately provided for, or we will inevitably be faced with a pensions dark age.”

AXA compared figures for state pension provision relative to income for the UK in relation to the other G7 countries:

Figure 1: Top level of state pension provision relevant to average earnings per G7 country (2007/8)

Canada France Germany Italy Japan UK USA
43.9% 51.2% 39.9% 67.9% 34.4% 30.8% 41.2%

State pension as % of earnings

Table 1: Level of state pension provision relevant to average earnings per G7 country (2007/8)

Looking to the Future

Recent research, commissioned by AXA showed that 64 percent1 of people will use only the state pension to support themselves in retirement, while almost one in five (18%) of 25-34 year-olds believe equity in their house will support them in later years – something that may not be possible if the stricter lending criteria comes into force and mortgages are harder to come by. With the housing ladder potentially becoming even more difficult to jump on, just 7 percent of 18-24 year olds believe they will have any equity to support them in their later years.

The ‘buy now pay later’ culture of the ‘noughties’ has left almost a quarter (23%) of people believing they will still have to pay outstanding debts in their retirement (excluding mortgages) with almost one in five believing they will still be paying for their home (18%). 44 percent of people believe they will be able to dip in to savings in their retirement, however with a reduction in average savings seen recently, they may not be left with the financial cushion they are expecting.

Occupational Pensions

The number of active members in occupational schemes shows an alarming decline with 10.7 million active members in 1991 slipping to just 8.8 million active members in 20072. At this time two-thirds of the current working population3 were not engaged in any form of occupational pension schemes.

While many believe Personal Accounts may improve this picture from 2012 with full implementation in 2016, there remains a large amount of uncertainty around their implementation and potential impact.

The Pensions Policy Institute estimates that the introduction of auto-enrolment into workplace pensions and the continued shift by employers from Defined Benefit to Defined Contribution pensions in the private sector mean that by 2020 there could be an additional 10 million savers in DC pensions4, however, AXA’s research shows that just 19% of people are likely to take part in the automatically enrolled scheme.

In light of the continued decline in occupational pension membership, AXA estimates that by 2020, there could be a rise of just 800,000 members in occupational pension schemes, far from the 10million private member estimations. The lack of political consensus coupled with the ongoing economic situation may yet require a further rethink of future pension reforms.

Year 1991 1995 2000 2004 2006 2007 2020
(est)
Active members of occupational
pensions scheme (millions) 10.7 10.3 10.1 9.8 9.2 8.8 8.8

Table 2. Active members of occupational pension schemes

Figures from ONS show that in 2007, the estimated total number of occupational pension schemes in the UK was 54,110 – only 56 percent of the total in 20042.  Whilst such a drop should always be treated with caution the General Household survey GB also found a worrying gradual decline.

The research completed by AXA supports this trend - highlighting that 10 percent have already cut back on their pension contributions over the past 12 months and a further nine percent are planning to cut back on this in the future.

Steve Folkard, Head of Savings and Pensions Policy at AXA said; “The erosion of the once sound company pensions infrastructure in the UK, which supported the retirement needs of the working population over much of the 20th century presents a future government with a massive challenge.  Pensioner poverty is set to grow dramatically over the coming years and current reform measures will take years to implement.

“At AXA, we have two major concerns: firstly around the continuation of means-tested benefits, and how the lack of clarity about what a person might receive impacts negatively on peoples’ willingness to save, and secondly, that automatic enrolment for existing schemes needs to be brought forward to increase take up amongst good existing schemes. This is all the more important now that Personal Accounts won't impact many employers until 2016.

“Our research shows that 64 percent of people are planning to support themselves in retirement on the state pension and as such AXA is calling for more government messaging around the importance of pension saving. This should encourage individuals to take more personal responsibility in saving for an adequate level of retirement provision.

“We risk heading past the point of no return for many people in this country who may be left living on the very minimum in retirement.”

My Budget Day – ‘Living on a state pension’

As part of its My Budget Day campaign to encourage people to take better control of their finances, particularly when it comes to retirement planning, AXA is launching a UK-wide ‘Living on a State Pension’ campaign.  The campaign starts on 2 November with 14 people, including former England rugby captain Kyran Bracken and author and broadcaster Rosie Millard living on the equivalent of the basic single state pension (£95.25 per week).  They will record their experiences on video diaries and regular updates at: www.axa.co.uk/mybudgetday.

1Research completed by YouGov Plc.  Total sample size was 2110 adults. Fieldwork was undertaken between 15th - 16th October 2009.  The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).

2NS&I’s Quarterly Savings Survey tracker

3Working population taken from ABI in their 2008 State of the Nation Savings report

4PPI PR Retirement income and assets report 3 Oct 09

Keywords: Pension, Annuities, Annuity, Pensions

Please note that the annuities and income drawdown information contained within the articles and general text on Annuities Central may not be intended for annuity consumer use, may no longer be current and should not be used by consumers to make financial decisions. It is very important that you don't use this annuity information in isolation to decide which annuity or annuity alternative to buy. Annuity comparisons and pensions information or opinions expressed are made as at the date of this publication and are subject to change without notice. Always seek the help of an annuity broker before you buy an annuity.

annuity comparisons Visit Open Annuities

You could increase your annuity by thousands. Make sure you recognise the best annuity advice when you get it. The more information about annuities you have, the more able you will be to recognise the best annuity advice when you receive it.
Visit Open Annuities Financial Services Register Number 530750


Annuity Plan Visit Pension Annuity Plan

You may be able to secure several thousand pounds more over your lifetime from annuity providers than your current pension provider. Many are unaware of this very important information. The more information you have, the more able you will be to recognise the best deal when you see it.
Visit Pension Annuity Plan Financial Services Register Number 530750


annuities plan Visit Annuities Plan

All fund sizes welcomed. Why should the annuity buyer be careful? Buying from your pension provider isn't always necessarily the best idea.
Visit Annuities Plan Financial Services Register Number 530750


annuity comparisons Visit Pension Annuity Planner

This company may be able to increase your standard pension annuity through enhanced annuities.
Visit Pension Annuity Planner Financial Services Register Number 530750


annuity comparisons Visit Annuity Base

Using specialist annuity industry search software, an FCA registered Independent Financial Adviser will query top annuity and annuity alternative providers' databases to help you compare and choose which one is the best for you.
Visit Annuity Base Financial Services Register Number 530750


annuity comparisons Visit The Enhanced Annuity

Specialists in enhanced annuities. It is estimated that up to 40% of the UK population could boost their pension annuity income with an "enhanced annuity".
Visit The Enhanced Annuity Financial Services Register Number 483817


annuity comparisons Visit Annuity Comparisons

Why would you use an automated annuity comparison website when an authorised, qualified pension consultant can advise you which is the best annuity for free with no obligation to buy? There are many reasons why you should not trust your future income to comparison tables on faceless sites. In some matters you need absolute certainty.
Visit Annuity Comparisons Financial Services Register Number 483817


annuity comparisons Visit Annuities Extra

Pension annuities for those of us who are not in the best of health. If you've a health problem, no matter how small or insignificant you think it is, you'll stand an increased chance of a higher annuity income.
Visit Annuities Extra Financial Services Register Number 483817


annuity comparisons Visit Simple Annuities

Finding an annuity does not have to be difficult. Pension annuity retirement finance experts with vast experience of annuities are waiting to help you. Compare pension annuities and annuity alternatives now.
Visit Simple Annuities Financial Services Register Number 483817


annuity comparisons Visit The Female Annuity

1000's of women retire every week in the UK. Compare annuities for women and their alternatives.
Visit The Female Annuity Financial Services Register Number 460094


annuity comparisons Visit Annuity Pathway

Your simple pension annuity journey. How you might take the wrong annuity route and lose the annuity income that is rightfully yours.
Visit Annuity Pathway Financial Services Register Number 460094


annuity comparisons Visit Just One Bite Annuities

How a pension annuity will affect your life. You will only get one bite of the annuity apple. Once you buy an annuity, there's no going back.
Visit Just One Bite Annuities Financial Services Register Number 460094


annuity comparisons Visit Pension Annuities Plus

Your annuity income may increase if you have had certain conditions such as high blood pressure, asthma or high cholesterol. This is also true for smokers and for those who have worked in certain occupations. Get pension annuity comparisons now.
Visit Pension Annuities Plus Financial Services Register Number 483817


annuity comparisons Visit Annuity Answers

Why should the pension annuity buyer beware and why do so many retirees ignore a much bigger annuity income? Compare annuities now.
Visit Annuity Answers Financial Services Register Number 483817


annuity comparisons Visit Smokers Annuities

Your lifespan as a smoker and your annuity options. We're sorry to be blunt, but you most likely already know that smokers, in general, have shorter lifespans than non-smokers. Of course annuity providers are well aware of this unfortunate fact of life. Increase your annuity now.
Visit Smokers Annuities Financial Services Register Number 483817


annuity comparisons Visit Annuity Key

Unlike some companies, all fund sizes are accepted. The Retirement Income Customer Hotline Limited may be able to boost your pension income by more than 40% compared with your current pension provider's offering.
Visit Annuity Key Financial Services Register Number 460094


annuity comparisons Visit Buy an Annuity

Buying an annuity from your pension provider isn't always necessarily the best option! You might be able to secure several thousand pounds more over your retirement from annuity providers than your current pension provider.
Visit Buy an Annuity Financial Services Register Number 154622


annuity office Visit Annuity Office

We recognise our annuity clients as individuals, which is why we deal with every case on a one-to-one individual basis. Did you know for instance that your income may increase if you have had certain health problems such as high blood pressure, high cholesterol or asthma? This is also true for smokers and for those who have worked in certain occupations.
Visit Annuity Office Financial Services Register Number 483817