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:

Shift from defined benefits to defined contributions pension schemes

7 Mar 2003 : Column 1069—continued Mr. Love: Does my hon. Friend accept that a major factor in the shift away from defined benefits to defined contributions pension schemes is the pension holidays instituted under legislation that was introduced by the previous Government? Mr. Dismore: My hon. Friend makes an important point. I am not entirely sure that the case he sets out is 7 Mar 2003 : Column 1070 correct, but I can certainly understand why people might think it is. There would be a great injustice in an employer avoiding his responsibilities if, when times were good and the value of investments was rising, he kept the pension fund topped up but, when their value fell, he said that he could not afford to maintain it, perhaps because of the pension holiday—the point made by my hon. Friend. He might then stop maintaining the defined benefits scheme and switch to defined contributions. As I have said, there is nothing inherently wrong with the defined contributions system. The problem is that employers are using the defined contributions switch as a sneaky way of cutting their wage bill. They often pay only 2 per cent. towards the defined contributions scheme, when they may have been paying 8, 9 or 10 per cent. to the defined benefits scheme. In other words, there is a wages cut behind the scenes, and the Opposition may wish to consider whether they need to talk to their friends in the City about that. The Library has produced a useful briefing on the issues, including unisex annuities. It says: "The Bill required annuities to be provided on a unisex basis, instead of the present rules, under which annuities are calculated separately for men and women. As female life expectancy is longer than men's, the level of income women can expect for a given pension fund is significantly lower. According to the Annuity Bureau, a man aged 65 with a pension fund of £100,000 will be able to get a level annuity of £7,556.40 a year, but a woman would only get £6,948.00. However, as the annuity would on average be paid for longer to the woman, the capitalised value of the annuities is the same." I am not sure that that is correct, and I shall give a different set of figures later. Lawrie Quinn: I served on the Committee considering the Bill introduced by the right hon. Member for Skipton and Ripon (Mr. Curry), when our hon. Friend the Financial Secretary tabled a relevant amendment. Has my hon. Friend had an opportunity to study the arguments deployed on that occasion? Is it not lamentable that the hon. and learned Member for Harborough (Mr. Garnier) has failed to deal with the key arguments that the Government made then, and should he not have altered the Bill instead of producing a copycat measure? Mr. Dismore: My hon. Friend is right, and I have with me copies of Hansard recording the Committee stages of the Bill introduced by the right hon. Member for Skipton and Ripon. The hon. and learned Member for Harborough may care to borrow them. He has obviously not read them, otherwise, as my hon. Friend said, he would have altered his Bill. He simply copied his right hon. Friend's Bill without any consideration of the cogent arguments made by my hon. Friend the Financial Secretary, who I am sure will speak about them later. Returning to the capitalised value of annuities, as has been said, women receive a lower annual sum because of their longer life expectancy. I have briefly referred to the table on page 13 of the Library briefing, and hon. Members may find it a useful illustration of my argument. It demonstrates clearly how the gap has developed and how long it will take for changes to be made. One hundred years ago, the difference in life 7 Mar 2003 : Column 1071 expectancy for men and women was much smaller. In 1901, there were 10.6 males to 11.6 females at age 65, showing a difference of only 1. If the hon. and learned Member for Harborough had introduced his Bill 100 years ago, he might have had a case for equalisation, but in 2001, there is a different life expectancy beyond 65 for men and women, with 16 males to 19.1 females—the difference has increased to 3.1. In the next 20 years, that figure is predicted to fall by only 0.3, so the hon. and learned Gentleman's reasons for introducing the Bill simply don't stack up. The differences are not predicted to change dramatically in the medium or long term. In the past 100 years, the differences have grown, as the chart in the Library briefing shows. The key issue is how that translates into pensions. Under the top rates currently available, as shown in the annuity direct rates table for March 2003, a 65-year-old man who purchases an annuity for £100,000 may receive £603 a month. The comparable figure for a female purchaser with £100,000 to invest is £565 a month. For simplicity's sake, I am working with figures for level annuities. To look at the whole range of annuity products would only complicate matters, and would not change my basic argument. Over his expected remaining lifespan of 17 years, the male would receive £123,046, whereas the female over her remaining lifespan of 20 years would receive £135,720 because of the accruing interest on the capital in the investment period. The Library briefing was therefore not quite right. Although the value of annuities is the same for men and women, the net product is better for women even though their annual annuity is slightly lower. Women are quids in at the end of the day. Mr. Pound: As ever. Ms Shipley: My hon. Friend the Member for Ealing, North (Mr. Pound) is living dangerously. Mr. Dismore: I shall not intrude on the arguments of my hon. Friends. Having declared my interest as a man, I shall, like most men, avoid that dangerous territory. Martin Linton (Battersea): Does my hon. Friend accept that sometimes men do very well from annuities? My father bought an annuity for £5,000 and, as he approaches his 96th birthday, has received £102,119. Mr. Dismore: My hon. Friend makes an interesting point, and I ask him to give my heartfelt felicitations to his father when he reaches his 96th birthday. However, he is not typical, as 96 is not the average male life expectancy. Annuities work on the principle of pooled risk across age, gender and a range of other factors. It is swings and roundabouts—if people die younger, the money goes back into the annuity pot for payouts to people who live longer. I believe that that point has been missed. Before my hon. Friends entered the battle of the sexes, I was saying that women would receive about £12,500 more than men over their lifetime on an initial investment of £100,000. As I said, that is because of the accruing interest on capital during the investment period, which would be longer for women. Interest and 7 Mar 2003 : Column 1072 inflation rates play a large part in assessing the value of those respective amounts, but the figures demonstrate that the value of a woman's annuity is no less than that of a man. Other aspects being equal, although an annuity payable to a woman may be smaller than that payable to a man, on average it will be paid over a longer period, producing a higher figure. The hon. and learned Gentleman's argument is that women get a raw deal because the annuity rates that they receive are lower than the men's. It is not difficult to see that unisex annuities would generally favour women and disadvantage men. On average, a man won't live as long as a woman, so a man's annuity will be paid for a shorter period than a woman's for the same outlay. That is simply demonstrated by looking at the reverse side of the coin. If a unisex annuity paid £580 a month for an outlay of £100,000, a man would receive £118,320 over his expected lifespan, whereas a woman would receive £139,200. In round figures, the man would receive £5,000 less and the woman would receive £4,000 more. The difference is probably explained by the exorbitant charges that those who run annuity schemes sometimes levy. However, the net result is that for the same outlay, through the unisex pension, the man is £5,000 worse off and the woman is £4,000 better off. The Bill would prevent a man from entering into a personal pension annuity contract and buying with his own money a pension that reflected his own life expectancy. Unless and until the hon. and learned Gentleman can introduce a Bill to equalise life expectancy, the Bill before us would rob Peter to pay Pauline. In the end, there is no extra money in the pot. Mr. Garnier: I am delighted that the hon. Gentleman has studied this issue so closely. During the 35 minutes or so in which we have been listening to him, I am sure that we have all been greatly assisted. Is the short point that he is against choice, whereas I am in favour of choice? The Bill does not require people to buy an annuity except for the purpose of a minimum income guarantee. They can do what they like with the remainder of their finances. The hon. Gentleman seems to be suggesting that people should not be allowed to do what they like with their own money. Is that right? Mr. Dismore: All that I can say is watch this space. I shall certainly be coming to the issue of compulsion. The Bill would create a new raft of compulsion for the vast bulk of people who are in the position that we are discussing, while providing freedom for a tiny proportion of people, including the hon. and learned Gentleman's rich friends. He has a cheek to raise the issue of compulsion. © 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