How shopping around could benefit you
Shopping around for a better annuity could increase your income by up to 40%* each year.
The table below shows examples of how retirement income can be improved by shopping around. Many retirees will benefit from taking the time out to consider whether they can get a better annuity from another provider.
Over a third of retirees** may qualify for an 'enhanced' annuity rate, so it's important to accurately disclose your state of health when you shop around as it could stand to benefit you for the rest of your life.
Use our Online Annuity Planner to help tailor an annuity to your individual circumstances.
* The increases quoted are based on a 65 year old man with a £40,000 pension fund sourced on 27/07/2010.
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17% is achieved by comparing a standard annuity rate against the best non-enhanced annuity rate.
40% is achieved by comparing the standard annuity rate against the best enhanced rate (example enhancement presumes person has medical conditions and smokes).
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** 2008 report by Watson Wyatt (employee benefits consultancy).