IMPORTANT: For pension funds under £30,000 please click here


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 Tax, Annuities Taxation


Pensions and Annuities Tax Research:

Summary of Responses: 

Inheritance Tax and pension simplification

Contents 1.General 2.Timing & Process 3.Overview 4.Details 5.List of Respondents June 2006 1.General HM Revenue & Customs published a discussion paper on 21 July 2005 to seek a consensus on the detailed application of IHT law to new situations arising under the new pension tax simplification regime. And on how in practice cases which are chargeable to IHT should be identified and any charge should be quantified. In outline the paper: set out existing IHT law relevant to pension choices; outlined briefly how it had been applied; described how pension choices would change post-A-day; discussed the implications of current IHT law for those situations; invited representations on how, in the light of that, IHT law should be applied in practice, or if respondents regarded this as impracticable in any respect, how it should be modified. This is a summary of the responses. 2. 83 responses were received up to the extended closing date of 10 October 2005. Of these, 14 were submitted by representative bodies and 11 from Life Offices: most of the remainder were from practitioners and industry professionals. 3. Some responses went wider than the IHT focus and so fell outside the scope of this discussion document. For example, suggestions for specific changes to the pension tax rules for alternatively secured pensions (ASP); those comments are not included in this summary. top ^2.Timing & Process 4. The timing of this paper was to inform Ministers’ decisions and allow them to put in place any necessary changes to the IHT rules to take effect from the start date of the new pensions tax regime i.e. 6 April 2006 – A-day. Ministers were grateful to all those who responded; this materially assisted them in finalising their proposals. HMRC gave industry representatives a brief outline of the responses at a meeting in November 2005. This was followed by a Government announcement at Pre-Budget Report in December 2005 confirming its intentions to legislate in the Finance Bill to clarify how the IHT rules would work post-A-day. Details of the proposals were published in Budget Note 26 followed by publication on 31 March 2006 of draft Finance Bill provisions (clause 161 & Schedule 22). top ^3.Overview 5. The discussion paper outlined some of the issues HMRC identified would result from applying existing IHT rules to post-A-day situations. At the same time it was made clear that the existing IHT practice could not simply be carried across to work effectively in the post-A-day rules. Unsurprisingly, the responses did not always engage with the question whether the desired outcomes could be obtained under existing law. Where they did so, it was clear that some outcomes were regarded as unacceptable and that legislation would be required accordingly. 6. Broadly, there was a strong consensus that existing IHT practice should continue for scheme members who die below the age of 75, and an acceptance that IHT would often be chargeable where members die after opting for an alternatively secured pension (ASP) at age 75. There was also an expectation that relief would be available where the benefits resulting from the scheme member’s choices were payable to their spouse or dependants. Some mentioned the case for relief where left-over alternatively secured pension funds are paid to a charity – a situation not addressed by the existing IHT practice. top ^4.Details 7. The general consensus was that the new rules for scheme members below the age of 75 should largely mirror the existing IHT concessionary treatment including the considerations for qualifying for section 10 exemption. And, for those aged 75 and over IHT should be charged on alternatively secured pension funds but only in appropriate circumstances (with exemptions for funds passing to spouse/civil partners/dependants/charity). 8. Respondents strongly emphasised the need for clarity and certainty in the emerging rules and wished them to be free from subjective judgements. In this way scheme members and their advisers could make decisions in the knowledge of the precise tax consequences. 9. Some respondents interpreted the discussion paper as heralding a change of policy to end the present IHT concessionary practice for scheme members. They viewed this as imposing unnecessary complications and additional regulatory burdens which run counter to both the Government’s stated aims for pension simplification and better regulation. There were concerns too about how this might be interpreted by the public at large i.e. sending out the wrong messages and creating uncertainties that could have a negative impact on future pension planning. Others took it as read that the existing system would continue for those aged below 75 with IHT being targeted on alternatively secured pensions (ASP) on the basis that this option could be used for estate planning rather than pension purposes. 10. A few respondents could not see the need for any change at all whilst a few others thought that the only action necessary was to update the current published practice to reflect the new pension choices. A variation on this was the suggestion to announce alongside the published guidance that a review would be undertaken in three years time; the thinking here was that this would act as a deterrent to many of those who might be contemplating (perceived) abuse. 11. The majority took the view that, in general, people below the age of 75 who deferred their benefits did so for reasons other that estate planning. For example, the most common reason for deferral would be to ultimately achieve a higher level of pension. Respondents made the point that the IHT rules should not discriminate against those who choose to phase their retirement, having been encouraged to do so by the Government under the flexibility afforded by pensions simplification. Some thought that under the age of 75 there should be no IHT charge in any circumstances whilst others took the view that the section 10 exemption should be the norm unless HMRC had clear evidence to the contrary. In any event for those with impaired life expectancy who died before the age of 75 the benefits should be IHT-free when paid to their dependants. 12. Various reasons were advanced as to why scheme members would not want to be locked into annuity purchase at age 75; the most common being a combination of poor investment performance and declining annuity rates. Another recurring theme was prospective annuitants’ dislike of “their” left-over funds on death falling into the hands of insurers ultimately to benefit “strangers” rather than those closest to them. 13. Some considered that there was no need to attempt to influence choices made by scheme members before age 75 as few of those intent on opting for an alternatively secured pension are likely to die before then. The rationale given was that people who choose an alternatively secured pension with estate planning in mind would almost certainly be among the wealthiest of retirees; circumstantial evidence suggests that this group also enjoys the lowest rate of mortality. A supporting estimate advanced was that only around 10% of people taking Income Drawdown would die before reaching the age of 75. 14. A few thought it commendable to pass alternatively secured pension balances down the generations to improve the pensions of family members (i.e. pensions taxed as income as opposed to capital) resulting in the reduction of the eventual burden on the State. Overall, there was a general acceptance that if IHT was appropriate at all it should be specifically targeted on those opting for alternatively secured pensions although the extent of that targeting varied. 15. Some considered that IHT should apply to all alternatively secured pensions, whilst others suggested alternatively secured pensions used for estate planning should be specifically targeted as most opting for an alternatively secured pension would not be motivated by IHT avoidance. Apart from those with principled religious objections to annuitisation, there could, in some cases, be sound commercial reasons as to why some people would opt for an alternatively secured pension over annuity purchase; for example, where a greater return on the fund investments could result in a higher level of benefits. 16. In other cases, depending on their circumstances some people could find they did not actually need the pension income at the particular time. For example, a retired partner in receipt of a substantial partnership annuity would have no need to draw on pension funds built up as a long-stop in the event that either the partnership annuity ceased or they were called upon to settle personal liability in a business-related context. 17. Various suggestions were made as to the extent of the alternatively secured pension fund which should be charged to IHT. Some thought it should be limited to a proportion whilst others suggested that the whole of the remaining fund should be charged but with adjustments for a notional fund underlying the member’s post-alternatively secured pension withdrawals. The vast majority thought the usual IHT exemptions for transfers to spouses and charities should apply although some thought that benefits for dependants should also qualify for exemption. That would then leave the focus for IHT on the “transfer lump sum death benefit” which is payable for the benefit of other scheme members and can only be paid out as income. 18. Some thought that rather than impose an IHT charge on alternatively secured pension funds a new pension scheme charge could be introduced on death. A few went further and suggested that if the pension tax rules were changed to allow a cash sum to be paid out on death after age 75 in the same way as it can be paid under that age, the prospect of alternatively secured pensions being used for estate planning would evaporate. There were differing views on who should pay the IHT on the left-over alternatively secured pension funds. Some thought that the responsibility should fall on pension schemes on the basis that if the late scheme member’s estate was responsible for the tax there may not be funds available to pay. Others thought that to put the onus on the scheme administrator could be complex and add to the regulatory burden. top ^5.List of Respondents Representative Bodies Association of British Insurers Association of Member-Directed Pension Schemes Association of Pension Lawyers Chartered Institute of Taxation Brethren Christian Fellowship City of Westminster and Holborn Law Society Investment and Life Assurance Group Institute of Chartered Accountants in England & Wales Law Society of Scotland London Society of Chartered Accountants Taxation Committee Low Incomes Tax Reform Group Society of Trust and Estate Practitioners Society of Pension Consultants Life Offices Aegon UK Axa Sun Life Friends Provident Legal & General Norwich Union Prudential Plc Scottish Life International Scottish Widows Skandia UK Standard Life Assurance Company Zurich Practitioners/Industry Edward Archer John Blackmore Park Hall Financial Services Principals in Practice Limited Arbuthnot Pensions & Investments Ltd Stephen Bridges CWE Astill Mike Jordan Wingham Wyatt Financial Services Ltd Bentley Jennison Amvescap Plc Riches and Watts Ltd Eldon Financial Planning Limited Fiscal Engineers Ltd Technical Connection Blake Lapthorn Linnell Whittaker Financial Solutions ltd J D Nightingirl Mattioli Woods Dave Mattos Sovereign (Financial Services) Group A J Bell Limited Richard Jacobs Pension and Trustee Services Limited ABG Financial Management Limited Clarke Willmott Finantium Saunderson House Limited T J Green (Pension Consultants) Ltd Dave Barratt - Annuity Direct Kingston Smith Martec Associates Ltd Brunel Trustees Beckett Investment Management Group James Hay Hargreaves Lansdown UK IFA Net Limited Nigel Sloam & Co M W Pensions Ltd Grant Thornton threesixty services LLP Watson Wyatt Ltd Sivabala Rasarathnam Deloitte & Touche LLP Taylor Patterson Trustees Ltd Hewitt Bacon & Woodrow Ltd Alexander Forbes HBOS Financial Services Limited Individuals AJM Baker R W Cansdale Robert E Kitson Susan Morson Martin Riley David Smyth Note: This list does not include those who asked for confidentiality, or who included personal information in their response ?©Crown Copyright Keywords: Pension, Annuities, Annuity, Pensions, Annuities Tax, Taxation 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