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!


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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.
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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:

Select Committee on European Union Twenty-Seventh Report

Chapter 8: Article 4:

Gender and Annuities:

A Special Issue for Britain 8.1. Any changes in the present method of dealing with annuities caused by the Directive will have special significance for this country. We were told by the ABI that the UK is the largest annuity market in the EU, if not in the World. They claimed that British annuities attract between £7-8 billion from maturing pension funds each year. (Q 80) The FSA and DTI confirmed that the estimated new premium income from UK annuities in 2003 was £7.5 billion. (pp 187-188, Q 29) 8.2. By comparison, we were told by the Treasury and the ABI that the French annuities market is a small niche one with mono-sex pricing based on female rates (whereas life assurance in France is based on male rates). (Q 34 and Q 80) 8.3. As Dr McDonald pointed out, the UK is unique in imposing a legal obligation on all members of defined contribution and stakeholder pension schemes, as well as holders of additional voluntary contribution and personal pension plans, to purchase an annuity by the age of 75. (pp 69-72) 8.4. The Financial Secretary made clear that, apart from concessions proposed in the Finance Bill for members of certain religious groups who have ethical objections to pooling risks with other parties, Government policy is to retain the requirement to convert private pension pots into annuities. This is designed to safeguard the investment which the Government has made through tax relief on pension contributions and ensure that retired people don't have to depend on state benefits as they grow older. (Q 325) 8.5. Prudential estimated that imposing unisex annuity rates would reduce the income of male annuitants by up to 10%, depending on their age and the type of annuity purchased. Because of the additional risks and administrative costs caused by introducing unisex rates, they estimated that any offsetting gain for women would be limited, at best, to 2%. (pp 43-45) 8.6. The ABI illustrated the likely change by saying that a woman aged 60 retiring with a pension fund of £22,000 (the average amount annuitised in 2003) should currently expect an income of around £75 a month from a single life inflation-linked annuity. An increase of 2% would provide only an extra £1.50 a month. (pp 24-28) 8.7. The Pensions Policy Institute stressed that most pensioners don't buy annuities. As a result, changing to unisex annuities would make no difference to three quarters of pensioners. But, because most annuity holders are men, more than three times as many pensioners would receive a lower retirement income. (pp 107-113) 8.8. The Institute also pointed out that 80% of current annuity purchasers have funds worth less than £30,000. The remaining 20% of annuity purchasers might be able to obtain a competitive unisex annuity rate leading to a 10% improvement for women and a 3% reduction for men. Women who depended on annuities taken out by male breadwinners would be worse off. (pp 107-113) The ABI concurred with the latter point. (pp 24-28) 8.9. The NAPF drew attention to the marked shift in private sector pensions from defined benefit schemes, where the pension is related to earnings and years of service, to defined contributions, where the benefit is the sum of the annual contributions accruing with interest on retirement. This would mean that annuities would have greater significance in the future. (Q 247) The EOC agreed. (pp 103-107) 8.10. Dr McDonald highlighted what she regarded as the unfairness of the present arrangements by which women receive less in annuity payments per year than men for the same pension investment because of what she regards as a flawed assumption about women's greater life expectancy. As an example, drawing on figures provided by the Annuity Bureau, she stated that a man aged 65 purchasing a single life annuity based on a fund of £100,000 would receive £146,251.20 if he lived till the age of 80 whereas a woman of the same age purchasing an annuity with the same sum and living to the same age would receive only £136,240.80 (pp 86-88). 8.11. Drawing on preliminary findings from a study made by the Pensions Policy Institute, the EOC concluded that neither side of the argument for and against unisex annuities had so far been made conclusively. Unisex annuities were unlikely to be of significant or widespread benefit to those currently close to state pension age. Although in future more pensioners should have greater annuity income, the EOC doubted whether compulsory unisex annuities would generate significantly better or more widespread benefits. (pp 69-72) 8.12. The Commission acknowledged that the UK annuity market was different from, and much larger than, those of other EU Member States. But it argued that all Member States must be treated in the same way. The Commission's starting point was that using sex-based factors was inherently discriminatory. Some women might have to lose out, but what mattered was creating a fairer society. (QQ 374-5) 8.13. The Financial Secretary thought that imposing a change to unisex annuities could cause insurers to set aside higher prudential reserves to compensate for inability to differentiate according to gender. This could affect prices. The rate on offer might be less favourable than mid-way between the current male and female rates and it could also lead to adverse selection. It was not clear what the overall effect might be. (Q 328) 8.14. She acknowledged that the proportion of women retiring with personal pensions was likely to continue growing. Fewer women would have to rely on spouse annuities in future. The Government wanted women to contribute to pensions in a more flexible way, but life expectancy would still govern what they received. (Q 329) 8.15. She also told us that the Treasury had argued against unisex annuities in a Green Paper on pensions in 2002. The Treasury did not want to see gender discrimination, but where gender could be objectively justified as a factor that could have benefits as well as costs for women it should be taken into account. (Q 312)[48] Other Solutions 8.16. Dr McDonald argued that other ways should be found of meeting the problem of inadequate female pension provision. She suggested that Netherlands Law 26711, introduced in January 2002, might be a model worth considering. It did not introduce unisex annuity rates per se in the Netherlands, but stated that men and women should receive equal pensions in defined contribution schemes. Pension scheme managers would have the choice from 2005 of either using unisex mortality tables or requiring employers to pay an extra premium for women so that they received the same pensions as men paying the same contribution. (pp 86-88 and Q 224) 8.17. She told us that the Retirement Income Reform Campaign had also proposed an alternative scheme, based on a minimum annuity level similar to the Canadian Retirement Income Fund which might offer greater flexibility for women. (Q 204) 8.18. The NAPF contended that the overall contributory basis of the state pension scheme tended to discriminate against women who had interrupted work patterns because of their responsibilities as mothers and carers. They advocated a universal state pension scheme, which they styled the Citizens Pension, as a solution to this problem. (pp 102-103 and QQ 262-265) 8.19. The EOC strongly supported the recent recommendation of the Select Committee on Economic Affairs[49] that basic state pensions should be paid on the basis on citizenship rather than contribution record. (pp 103-107) They submitted a paper setting out proposals for a Citizens Pension. (pp 131-135) Conclusions 8.20. This is a complex topic. In principle, it seems to us not unreasonable that, if gender can be shown to be a relevant yardstick of longevity, then the benefits paid to female annuity holders should reflect their longer life expectancy. The research into the assumptions about longevity which we have recommended in the previous chapter should show whether this practice is relevant, justifiable and should continue. 8.21. The evidence we have had suggests that the Directive, if implemented as it stands, would produce only marginal advantages for women in the short run because few women have sizeable annuities. At the same time, the many households which are still likely to depend on the annuity of a male breadwinner would tend to lose out. So far, the Commission has not produced a detailed impact statement which examines these factors. 8.22. We recognise that the Directive would not apply to existing policies and that the situation may change if substantial numbers of better-off females with more sizeable independent pension pots come into the annuities market. Further consideration needs to be given to the effect this might have on the implementation of the Directive and where the balance of advantage might lie for consumers if any changes were made. 8.23. We are also convinced that particular attention must be paid to the unique characteristics of the annuity market in the UK at present because of the current legal obligation on certain pensioners to purchase annuities which makes it very different from annuity markets in other EU Member States. 8.24. We have read with interest the proposals advanced by Dr McDonald, the NAPF and the EOC for alternative solutions to the problem of inadequate female pensions. We recognise the need for urgent attention to be given to that problem, but it goes well beyond the scope of our consideration of this Directive. Recommendations 8.25. We recommend that, in addition to the research into the validity and relevance of gender in relation to longevity which we have recommended above, the Commission should produce a detailed impact statement for consideration by Member States and the European Parliament on the implications of the proposed Directive on future annuities for females and males and where the balance of advantage for consumers might lie. 8.26. The Directive must take full account of the special circumstances of the annuity market in the UK, given its unique compulsory nature and size. 8.27. It should also take due account of the likelihood that many women will continue in the foreseeable future to have to depend on the annuity of a male breadwinner and would thus stand to be penalised by changing to annuities where the benefits are no longer linked to an assumption of greater female longevity. 8.28. The aim should also be for the Commission to produce from the impact statement and the research recommended, realistic proposals for guidelines for the practical application of our recommendations above on the objective criteria by which the continued use of gender as a factor in assessing insurance premiums and benefits should be permitted. 8.29. We are very concerned about the problems identified in evidence of inadequate female pensions, caused by women having to interrupt their careers for family and other caring responsibilities. But we don't see the proposed Directive as a solution to that problem. EU Governments will have to find other ways of developing pension policies with a view to providing more equitable retirement income for women in future. 48 Treasury officials subsequently confirmed that the Green Paper in question was a joint consultative document entitled "Modernising Annuities" jointly produced by the Department for Work and Pensions and the Inland Revenue in February 2002 http://www.inlandrevenue.gov.uk/pdfs/mod_annuities.pdf This had contributed to the Green Paper on Pensions, also jointly published by the Department of Work and Pensions and the Inland Revenue, in December 2002 http://www.dwp.gov.uk/consultations/2002/pensions/gp.pdf Paragraph 70 of Chapter 5 of that Green Paper reads as follows "Some have argued that providers should be compelled to offer unisex annuity rates, as women's longer life expectancy results in them receiving lower annuity rates than men. The Government is not attracted to this proposal, as the evidence is that it would result in lower aggregate retirement incomes for the population as a whole, and only marginal - if any - benefits for women. It would increase the risk that provider firms would be taking on (because they would have to make assumptions about the proportion of men and women buying their policies) and this risk would have to be priced in." 49 "Aspects of the Economics of an Ageing Population" 4th Report, Session 2002-03. HL paper no. 179-1 © 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