eAnnuity Rates
eannuity rates
Subscribe RSSAnnuity Rates – Did You Know That if You Qualify for an Enhanced Annuity You Could Get Up to 40% More Income From Your Pension Provider?
Annuity Rates Guide…
Are you looking for good annuity rates?
We know just how important it is for you to get the best income during your retirement, which is why we have made it easy for you to find the best annuity rates in the UK.
How Annuity Rates Are Determined
Annuity rates are based on several factors, which vary from one case to another so different investors get different rates, some of which are higher or lower than others. These factors include:
1) Pension fund size – Annuities are usually purchased using pension funds, and the size of this fund is the starting figure for calculating your annuity rate.
The larger your fund and the more time it is given to be invested and grow, the higher the rates will also be.
2) Life expectancy – Annuities are designed to provide an income for life which is why the duration of an annuity contract is the same as a person’s lifetime.
Life expectancy is calculated based on your age upon application, as well as on your gender – women tend to live longer than men, previous occupation and state of health.
If you are suffering from a medical condition, you can qualify for an enhanced annuity, which offers up to 40% higher rates than the standard annuity and if you have been smoking for the most part of your life, you can also qualify for smoker annuity rates.
3) Location – Some parts of the UK are considered more affluent than others, and are given lower rates.
4) Annuity options – Annuities have several options and features, each of which can affect your annuity rate.
How To Find The Best Rates
In order to find the best annuity rates, the first thing you should do is use your Open Market Option.
This simply means you should shop around for the best annuity available from different providers instead of accepting the first annuity you are offered or just getting an annuity from your pension provider.
Your pension provider may be someone you already trust, but there is no guarantee that they are experts on annuities as they are on pensions, and tend to offer low rates.
To help you make the most of the Open Market Option and to keep you from getting confused as you scour through your options, it is also recommended that you consult a financial adviser.
Annuity Providers
