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:

Memorandum by Pensions Policy Institute (PPI)

SUMMARY

Unisex Annuities

The submission covers the potential consequences for retirement income in the UK if unisex annuities become compulsory as suggested by the Directive. We conclude that: — Numerous arguments have been made for and against unisex annuities. While valid arguments are made on both sides, in our view neither side of the argument has been made conclusively. — The PPI has quantified the likely impact of compulsory unisex annuities. This shows that unisex annuities are unlikely to be of significant or widespread benefit to people currently close to state pension age. — A move to unisex annuity rates is unlikely to bring about a significant change in retirement income for most pensioners because: — Three-quarters of pensioners don't have any income from annuities. — Changing to a unisex pricing regime won't change annuity rates significantly. — Annuities form a small proportion of retirement income for most people who have them. — Although more future pensioners will have more annuity income, there will still not be a significant or widespread benefit from compulsory unisex annuities. — Therefore, if the Directive is implemented, it should be understood that there won't be significant benefit for all women. It is likely that more pensioners would see a lower retirement income than higher, including some women who depend upon their husband's pension in retirement. THE ROLE OF THE PENSIONS POLICY INSTITUTE 1. The Pensions Policy Institute (PPI) promotes the study of pensions and other provision for retirement and old age. The PPI is unique in the study of pensions, as it is independent (no political bias or vested interest); focused and expert in the field; and takes a long-term perspective across all elements of the pension system. The PPI does not make policy recommendations, but exists to contribute facts and analysis to help all commentators and policy decision-makers. 2. This submission is written by Alison O'Connell, Director, and Chris Curry, Research Director. Alison trained as an actuary and has over 15 years experience in the financial services industry and pensions policy. Chris has worked in pensions for the Government and the private sector for 10 years. 3. The submission covers only the potential consequences for retirement income in the UK if unisex annuities become compulsory under the terms of the Directive. This work draws heavily on unpublished research commissioned from the PPI by the Equal Opportunities Commission (EOC). This evidence is submitted on a corporate basis on behalf of the PPI. The submission does not necessarily reflect the views of the EOC. VIEWS FOR AND AGAINST UNISEX ANNUITIES ARE NOT CONCLUSIVE AND HAVE NOT BEEN QUANTIFIED 4. Supporters of unisex annuities argue that: — Unequal annuity payments for the same size pension fund is discrimination. — Different life expectancies for men and women are irrelevant as there is a considerable overlap in the ages at which most men and women die. — Unisex annuities would increase women's retirement income. — Gender is becoming less relevant to annuity pricing, as differences in life expectancy reduce and other factors (such as health) are used to price annuities. 5. Opponents of unisex annuities argue that: — Gender-specific annuities are not discriminatory because women are expected to live longer than men, and the total value of income received is equivalent. — The overlap in the ages at which most men and women die is irrelevant. — Unisex annuities would reduce retirement income for men and women. — If less information can be used to price annuities then they will cost more. — A move to unisex pricing could be the "thin end of the wedge", ending the use of other rating factors in annuity underwriting to the detriment of consumers generally. — Unisex pricing for annuities could lead to higher costs for women in other areas of insurance. 6. In our view, while valid arguments are made on both sides, neither side of the argument has been made conclusively. 7. The one argument that has been used successfully elsewhere in the world for compulsory unisex annuities is that they discriminate against women—even though there are doubts about the economic logic used for this argument[8]. And in the UK annuitisation is compulsory, rather than voluntary as in the countries that already have compulsory unisex rates. 8. If a similar case of discrimination were to be successful in the UK, the precedent applies only for part of the employer-sponsored market (not including group or individual personal pension arrangements), which would amount to at most one-third of the current UK annuity market. 9. The arguments that have been made for and against unisex annuities have not quantified whether, and by how much, they would benefit women and consumers in general. QUANTIFICATION SHOWS THAT UNISEX ANNUITIES ARE UNLIKELY TO BE OF SIGNIFICANT OR WIDESPREAD BENEFIT IMMEDIATELY 10. To help place the above arguments in context, the PPI estimated the possible impact of a change to unisex annuity pricing in the entire annuity market. Firstly, we estimated by how much annuity rates would change if unisex pricing were made compulsory. We then assessed how much difference a change to unisex annuity rates could make to the retirement incomes of both women and men, today and in the future. 11. A move to a unisex annuity regime is unlikely to bring about a significant change in retirement income for most pensioners (Chart 1). — Fewer than one-quarter of pensioners would see retirement income change. — More than three times as many pensioners could see a lower retirement income as benefit from a higher one. — The average gains and losses would be small. — Some wives and widows would receive lower income. CHART 1[9] 12. This pattern of gains and losses arises for three main reasons: — Most pensioners don't buy annuities. — Changing to a unisex regime won't change annuity rates significantly. — Most annuities are small. MOST PENSIONERS DO NOT BUY ANNUITIES 13. Three-quarters of pensioners don't have pensions that require them to buy annuities, and so won't be annuity purchasers. CHANGING TO A UNISEX REGIME WOULD NOT CHANGE ANNUITY RATES SIGNIFICANTLY 14. Eighty per cent of current annuity purchasers have funds worth less than £30,000. For these small funds annuity rates are not competitive. A change to compulsory unisex rates would not make the market work more competitively. A worst case scenario is therefore that unisex rates are no better than the female rates that are offered today. This could mean that annuity rates for women would not change, but men's annuity rates could fall by 13 per cent. 15. The remaining 20 per cent of annuity purchasers may be able to obtain a competitive unisex annuity rate. A best case scenario is that unisex annuity rates could settle around a quarter of the way between current male and female annuity rates. This would mean that annuity rates may improve by 10 per cent for women, but worsen by three per cent for men. Therefore, women relying on their partner's annuity could be worse off by around three per cent. MOST ANNUITIES ARE SMALL 16. The median annuity purchase price in 2003 was less than £10,000. Less than 10 per cent of annuities were worth £50,000 or more. Annuity income is therefore only a small part of retirement income for most pensioners. A 10 per cent change in annuity rates would change average retirement income by less than three per cent. FUTURE PENSIONERS 17. It will take a number of years for recent changes in pension provision (such as the growth of personal pensions and the increase in Defined Contribution occupational pension schemes) to increase the numbers of people with annuities, and the amount of retirement income they provide. 18. However, the impact on retirement income from a change to unisex annuities is still likely to be small. A large proportion of retirement income is still likely to be provided by the State, and the above pattern of benefits and losses is likely to remain.[10] This means that a move to compulsory unisex annuities is unlikely to change future retirement income significantly. 8 For example, in the US and Canada any annuity bought with the proceeds of defined contribution occupational pension schemes must be unisex. In the US unisex annuities have been justified using the overlap between the ages at which most men and women die, even though the same data shows an identifiable and significant difference in the expected length of time an annuity would be paid to women and men. In both countries alternatives to annuities are available (and much more popular than annuities), and the number of unisex annuities purchased is relatively small 9 See appendix for further details. SL is single life, JL is joint life. The figures show the range of outcomes between the "worst case" and "best case" scenarios, defined in paragraphs 14 and 15 of this submission. "Recently retired" means within five years after State pension age. This age group was used to represent people currently close to State pension age 10 See appendix for further details. SL is single life, JL is joint life. The figures show the range of outcomes between the "worst case" and "best case" scenarios, defined in paragraphs 14 and 15 of this submission. "Recently retired" means within five years after State pension age. This age group was used to represent people currently close to State pension age © Parliamentary Copyright 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