Abbey Annuity Pension Comparison
The initial Abbey Pension Annuity Service is free for everyone to use
At Abbey Annuities we are helpful and friendly and we look at giving you the most complete picture of your retirement options. We will source and find you the right PENSION ANNUITY to match your needs and we will then provide you with a free no obligation quote!
Choosing The Right Pension Annuity
The main aim at Abbey Annuities is to maximise your Pension Annuity. It is important that you are aware of the process and also in control throughout the process. It is also important that the right options are selected by you as everyone has different requirements.
At Abbey Annuities you will be allocated a dedicated Annuity Specialist who will guide you through the process step by step. They will search through a number of Pension Annuity providers to find you one that can generate the highest income for you. Your dedicated Abbey Annuity specialist will liaise with your pension provider to make sure the process is as stress free as possible from start to finish.
At What Age Can I Buy My Annuity
You can purchase an Annuity from the age of 55, when you start to receive your Pension there is however no requirement for the individual to actually retire. The younger you are when you purchase an Annuity then the less of an income it will pay you because the provider assumes that they would normally have to pay you for a longer period.
Get An Annuity Quote Online
Please complete the required fields below.
When To Buy Your Annuity
When you are approaching retirement, your pension provider normally offers you an annuity quote from themselves, most of the time, however, this might not be the best option. However there is what is called the "open market option" which is basically your legal right to shop around. Make sure you do shop around and Abbey Annuities will help you do this every step of the way and you will find considerable variances between what different providers will offer you. You will receive a letter from your pension provider which will show the value of your fund at your retirement date and this is the figure that should be used to obtain quotes from different providers.
Would You Like Your Pension Income To Be Protected Over Time?
The main current issue is inflation and over time this will affect your retirement Pension income. What this actually means is that the longer you live then your retirement Pension income will actually reduce. There is a way in which you can protect against inflation over time and this is called escalation. There are 2 types of escalation that act as protection and the first one is Fixed which enables you to increase your Pension income each year by up to 8.5% but this comes at a price as your annual Pension income will be initially lower. The other alternative would be to increase your Pension Annuity with RPI which would protect against inflation and is a cheaper option than the Fixed option.
Is My Partner Entitled To Benefits?
The question is whether to purchase Single or Joint Life Annuity. When it comes to the time for you to purchase an Annuity the normal way is to set up an income to be paid for as long you live which is a single Annuity or if you die before your partner, as long as they live which is a Joint Annuity. There is also an option with a Joint Annuity in which the income reduces after the first death. This would actually give you a higher Annuity rate initially to a standard Joint Annuity.
When Can I Take My 25% Tax Free Lump Sum?
When you decide to take your Pension you are entitled to a portion of up to 25% as a tax free lump sum. You need to bear in mind that any cash that you take from your Pension pot will reduce the amount of income that you receive when you purchase an Annuity.
In Advance Or In Arrears
Would you like to receive the payment from your Annuity in advance or in arrears - it is your choice. If you decide on advance then you will receive your first payment as soon as your Pension Annuity starts and if choose in arrears you will receive your first payment at the end of whichever payment duration you decided on at the outset. For example; if you had decided to take your Pension on a monthly basis then you would receive your first payment one month after your Pension Annuity starts.
Would You Like Your Pension Annuity With A Guarantee?
Your Pension Annuity will already guarantee to pay you for the rest of your life; however there is an option to also have it paid for a guaranteed period of between 1 and 10 years which could be to your chosen dependant or your estate if you were to die during the period of guarantee. If you have already chosen to take a Joint Pension Annuity then this option is of less importance to you.
I feel very lucky to have been recommended this company. I cannot fault it. I would recommend them to anyone. And a special thank you to Mr Scott Leigh - a true professional from start to finish. Leon Grayson
In the past I had conducted lots of research myself and felt quite knowledgeable, yet the advice of Alan Maguire helped to give me the confidence I needed to move forward and complete. In the end I felt that they had got me the best deal available with them being whole of market. Susan Wilkinson
Excellent Service, everything was explained simply and clearly. Very friendly people. We would highly recommend anybody wanting to sort out their finances to contact Howard Green at Abbey Lane. Due to a few health issues that we had led to us being offered a substantially bigger pension than we was offered by our existing providers. Brian & Patricia Ridge
The advice given by Howard Green at Abbey Annuity, then and regularly since has proved to be very helpful and beneficial to me. Since then, I have found them to be extremely helpful and attentive to my needs. I have always found them to follow my investments very well and to advise me of worthwhile changes I should be making from time to time. Terry Bottomley
We were originally sceptical about using a website to find an Annuity for us but it is one of the best things we have done, everything was explained to us from start to finish and we even arranged a meeting with one of Abbey Annuities Independent Financial Advisers to explain things face to face, excellent service we would recommend to anyone. Malcolm Edward Green
Abbey Annuity were brilliant from start to finish, they helped me to achieve an extra £2342 per year from my Pension and kept me updated every step of the way. Rosalie Sykes