Annuities - Compare the market 

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We have unrestricted access to all Annuities providers so please contact us for a simple no nonsense approach to annuities advice. We can compare the market and find the best annuities rates for you.

A pension annuity is simply a way to convert your pension fund into income for the rest of your life. You have the choice of taking any tax free cash you are entitled to before the annuity is set up.

It is your legal right to choose your own annuity provider. This is called the ‘open market option’

So don’t lose out on the extra income that is legally yours, take the open market option and contact us today.

What is an Annuity?

An annuity is an income purchased from an insurance company. This can be from your own funds (known as a Purchase life Annuity) or as is more often the case, using funds built from within your pension.

An annuity bought from a pension is called a Pension Annuity or a Compulsory Purchase Annuity or a Lifetime Annuity. This type of annuity is guaranteed and will pay you an income on whatever basis you choose, for the rest of your life, no matter how long you live. Once you have started an Annuity it can not be changed.

Pension Annuity

Your pension fund does not automatically start paying you an income when you retire. Instead, when you decide to take an income, your pension is normally converted into a Pension/Lifetime annuity, an income for life no matter how long you live. Under current legislation, you have to buy an annuity with your pension fund by the age of 75.

There are two very important points to remember when setting up your annuity.

1. You do not have to stay with your current pension provider when you retire. They may not have the best annuity rates.
2. Not all annuity providers are the same. The difference between the best and worst annuity incomes can be as much as 30%.

At retirement a pension fund will normally allow you to take some of the fund as tax free cash, the remainder must purchase an income for life, an annuity. As the income is taxable, in most cases it is advantageous to take the maximum tax free cash at retirement and purchase a separate annuity.

Tax Free Cash is now referred to as the Pension Commencement Lump Sum or PCLS.


With a standard annuity, you can rest safe in the knowledge that your income will never run out or decrease. Once your annuity is set up your chosen option of income is fixed, so it is important to choose your options carefully

The amount that you get will depend on factors such as;

Age
Sex
Health
Benefits you chose to take
The amount of the fund
The amount of the lump sum payment (tax free cash) you have chosen to take.
We review the whole of market to get you the best available quote.

Different companies offer different annuity rates and these change frequently so its important to review these at the time you retire. Just because your pension company is the most appropriate for building up your pension fund does not mean that it will be the most appropriate for your retirement income.


If you are a smoker or in poor health you may qualify for an Enhanced Annuity, some times called Impaired or Smokers Annuity.


Enhanced/ Impaired annuities offer a higher income to you, based on the fact that you suffer from a pre-existing medical condition. This is based on life expectancy and your actual condition amongst other factors. The annuity income varies from provider to provider and could offer a substantial increase from a standard pension annuity.