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Independent Advice - An IFAs View

Most clients do not realise the potential benefit of seeking independent Advice when it comes to commencing their pension and taking out an annuity.

From my experience the majority of people take the annuity out with their pension fund provider – which in a high percentage of cases will mean a lower pension income than that which is obtainable on the Open Market.

What they SHOULD do is exercise their Open Market Option.

A recent example of this:-

A female client aged 63 recently came to me seeking advice on taking her pension. She had 3 pension funds totalling £32,000 after 25% tax free cash had been taken. She had been offered £1,900 per annum from the three companies in total. However, as she was a smoker (this must be the only thing in life where being a smoker benefits you) there are companies that provide enhanced annuities for smokers. I managed to obtain an annuity for £2,278 per annum a  £378 increase an extra £3,780 in annuity income over 10 years. The process is simple and there were no extra charges or fees to be paid

Can you afford to turn down extra income?

Seek Independent Financial Advice!

Article by:

_{^{Martyn Jones
Tudor Rose Associates
Address :: Henton House, Monk Street, Abergavenny. NP7 5NP
Tel :: 07967 700550
Email :: martyn.jones11@btopenworld.com
For Further Information click here}}

_{^{Please note that articles on My-Annuity do not constitute regulated financial advice. These articles are intended to provide general personal financial information. You should always consult an Independent Financial Adviser (IFA) before making ANY financial decision. This article was contributed by a 3rd party and does not necessarily represent the view of my-annuity.co.uk.}}

_{^{In this case we would strongly recommend that you contact the author Martyn Jones who is an expert in this field and whose contact details are provided above.}}

_{^{Visitors are strongly urged to consult with a qualified financial advisor before making any investment decision. Neither my-annuity.co.uk nor any person involved with the running of this website can be held responsible for any investment decisions made by our visitors. This website is an independent UK marketing website and not a provider of financial services or advice in any form. We pass on your pension annuity enquiries to Independent Financial Advisers and cannot offer financial advice. We are not responsible or liable for any financial service, or annuity product obtained through a third party. An annuity enquiry from this website does not constitute an offer to provide an annuity policy.}}