Retirement Annuity

For advice or quotations for any type of annuity, with no obligation, please call one of our qualified advisors
0845 365 2410 quoting ref WS9
(Advisors are available Monday - Friday during normal office hours)

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I want a standard pension annuity quotation (includes fixed and variable rates).
I want an impaired life pension annuity quotation (includes fixed and variable rates).
I want a smoker pension annuity quotation (includes fixed and variable rates).
I want a purchased life annuity quotation (not for pension funds).
I want a quote for an immediate care annuity.
I want a quote for long term care annuity.
I want to discuss my annuity options with a financial adviser (no obligation).
I want advice regarding a pension transfer.

Retirement Annuity

Retirement annuities are generally considered to be an annuity contract purchased with a pension fund at retirement. This can be either a Guaranteed Annuity or a Variable Annuity. This guarantees you an income for life in exchange for your pension fund.

However individual pension savings policies issued prior to 1st July 1988 were known as Retirement Annuity Contracts. The tax treatment and minimum retirement ages of these used to differ from post-1988 personal pensions, but subsequent changes in the tax rules have enabled the two different types of contract brought into line, although not all providers have adopted these changes.

One significant difference is that the lowest age at which benefits could be taken from a retirement annuity contract was 60, whereas from a personal pension it is currently 50. If you have a retirement annuity contract and wish to take benefits before age 60 this can normally be achieved even if your current provider does not allow it; please contact one of our advisers for details.

It is worth noting that from 6th April 2010 the minimum age for taking benefits from any type of pension plan will rise to 55, so if you reach 50 before then, but will not reach 55 until after that date, you have a limited opportunity to take benefits from your plan early.

It is important that independent advice is obtained prior to arranging your Pension Annuity, to ensure that you are aware of all the options.

UK IFA NET provide fully independent Annuity Advice for your individual requirements. Simply click for a quote. Alternatively speak to one of their highly experienced consultants today on 0845 365 2410 quoting ref WS9 or fill out our online quote request form and one of their advisors will contact you.