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 Rates News


Pensions and Annuities Rates Research:

Select Committee on European Union Minutes of Evidence

Gender Based Annuity Rates: Memorandum from Prudential plc

1. Established in 1848, Prudential plc is a leading international financial services company with more than 16 million customers world-wide and major businesses in the UK, the US and Asia. 2. In the UK Prudential is a leading provider of pension annuities and pays 750,000 pensions each year. We have a great deal of experience and expertise in mortality assessment and the provision of retirement income. We are therefore particularly well placed to comment on the relative merits of gender-based and unisex annuity rates. Our submission focuses on this aspect of the proposed Directive. 3. We are grateful for the opportunity to submit written evidence to European Union Sub-Committee G. KEY POINTS 4. Prudential strongly supports any effort to remove or prevent unfair gender discrimination. However, we believe that it is entirely fair and appropriate to continue to permit the use of actuarial calculations based on gender where that reflects objective data. 5. Prudential uses gender as a rating factor in setting annuity rates because, after age, it is the most significant predictor of life expectancy. The use of gender-based annuity rates is not based on prejudice, discriminatory behaviour or flawed assumptions. Our pricing is based on risk. 6. The UK annuity market is the largest in the world with £7.4 billion of pension annuities purchased in 2003. There is no comparable market elsewhere within the EU. A requirement to use unisex annuity rates would therefore have a disproportionate impact on UK consumers. BACKGROUND 7. Annuities are the method by which the fund built up from a money purchase (or defined contribution) pension fund is converted into a regular income for life. Annuities operate as a form of pooled insurance under which a group of individuals insure themselves against outliving their retirement income. 8. At present annuity rates are determined by a variety of factors such as the anticipated life expectancy of each annuitant and prevailing interest rates. All other factors being equal, a female's annuity rate will be lower than that for a male of the same age, due to the longer life expectancy of women. However the total value each receives over their lifetime will be the same. 9. Under the Equal Treatment Directive the use of gender as a factor in setting annuity rates would be prohibited. WHY INSURERS USE GENDER-BASED ANNUITY RATES 10. It is fundamental to the operation of a pooled insurance contract that the price reflects the risk. 11. Mortality risk is a critical factor in annuity provision and we continuously monitor and review mortality data. Investigation and analysis of such data confirm that although other factors impact on longevity, gender remains, after age, the most significant factor in determining when someone is expected to die. 12. The impact of gender and age is demonstrated in the following table: Average Life Expectancy Age Men Women 65 18.0 21.2 66 17.1 20.3 67 16.3 19.4 68 15.5 18.5 69 14.7 17.7 70 13.9 16.8 Source: Continuous Mortality Investigation Bureau: UK Pensioner Male Lives/Pensioner Female Lives Base Table 1992: CMI17 Improvement Factors applied to 2003. 13. Although there are different views as to the causes of the gender differences in mortality, sex remains a significant predictor of mortality. As the Report of the European Parliament (Rapporteur Christa Prets—A5-0155/2004) recognised, "Statistically, life expectancy varies according to gender". 14. Differences in life expectancy between genders remain even when other factors such as marital status, occupation, socio-economic status and smoking habits are taken into account. 15. There are also significant causal differences in the mortality experience of the genders. Obvious examples include cancer of the prostate, cervix and breast. Other examples include the biggest killer: heart disease, where male mortality rates are double female rates and where we know that androgens (male hormones) attack the circulatory system, whereas oestrogens have a mildly beneficial effect. 16. The table above demonstrates that the fundamental insurance principle underlying the use of gender-based annuity rates is the relative risk that individuals pose to the insurance pool. 17. The use of gender-based annuity rates also represents the application of the same principle that means that a 60-year old will receive a lower annual income than someone buying an annuity in their 70s. That is, a finite fund payable for a longer period of time will provide a lower annual income, but not a lower total income, than one paid over a shorter period. THE IMPACT OF UNISEX ANNUITIES ON CONSUMERS 18. We estimate that the imposition of unisex annuity rates would reduce the income of male annuitants by up to 10 per cent, depending on their age and the type of annuity purchased. The impact of the new risks and costs introduced by unisex rates would limit any potential balancing gain for women to, at best, two per cent. 19. The income of consumers would be affected by a number of factors caused by the use of unisex annuity rates: (i) The annuity rates that consumers were offered would depend on the ratio of men to women in a provider's business mix. However providers operating in the open market would be unable to control the number of men and women buying annuities with them. Annuity rates would therefore be set to reflect the risk that providers may be writing annuities for a disproportionate number of longer-living females. (ii) Annuity rates would not be priced at a point between current male and female rates. This is because such a pricing basis would give defined benefit schemes the opportunity to buy annuities that secured the pensions of their female members at a price below the actual cost of the benefits being provided. Annuity providers would therefore need to set their unisex rates at a level that reduced the risk of being selected against by pension schemes. (iii) The uncertain business mix and anti-selection risks introduced by unisex rates would increase the capital requirements and risk premium that providers would build into annuity prices. (iv) We believe that the number of companies prepared to write annuities would reduce (see next section below). This may decrease competitive pressure on prices at a time when demand for annuities is rising. (v) The increased cost of using less efficient and less cost-effective methods of determining life expectancy would be passed on to consumers. 20. As a result of these inefficiencies consumers would be likely to find that unisex rates would move towards current female rates to the disadvantage of male annuitants and with little significant gain for female annuitants. 21. The impact of unisex rates on pensioner households also needs to be considered. At present around 70 per cent of annuitants are male and it is clear that in a significant majority of cases their annuity will be the only source of private pension income within a household. As a result, any reduction in their income affects both partners in a pensioner household. THE IMPACT ON THE UK ANNUITY MARKET 22. The UK annuity market is the largest in the world. In 2003 over 300,000 people guaranteed themselves an income for the rest of their life by purchasing a pension annuity. We believe that the imposition of unisex rates would have a significantly detrimental impact on consumers buying an annuity in this market. 23. In particular we believe that the number of companies providing annuities in the UK would reduce. This is because some providers would be unwilling to participate in a market where they could not price by risk, were subject to new and artificial business-mix and anti-selection risks and faced increased capital requirements and costs. We also believe that some providers would choose to manage their business mix risk by offering annuities only to their existing customers. 24. For consumers this would mean less choice in a market where annuity rates were already impacted by the increased costs and risks produced by unisex rates. CONCLUSION 25. The proposed Directive would be detrimental to consumers because: — consumer choice would be reduced as providers leave the market — men would receive lower pensions — women would be unlikely to receive higher pensions in return due to the anti-selection risks facing insurers — the extra costs of monitoring such a new and artificial risk would inevitably be borne by customers. 26. Prudential strongly supports any effort to remove or prevent unfair gender discrimination. But pricing annuities on the basis of genuine risk is not discrimination. Outlawing the use of objective data in setting annuity rates is therefore neither justified nor proportionate. 27. This Directive will hurt consumers, not help them. 29 April 2004 © 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