RETIREMENT SOLUTIONS

Having built up your pension throughout your working life, it is important to think carefully about how best to turn this into your income in retirement. There is a wide choice of annuities available in today’s market place and the difference in lifetime income that these provide can vary dramatically. While many people may instinctively look to the company that has managed their pension for an annuity, this may not deliver the highest level of income or the flexibility that you need.

Industry figures suggest that around 60% of those reaching retirement stay with their existing pension provider and never research to see what other insurance companies may be offering. By not taking advantage of what is known as the ‘open market option’ many people could receive significantly less income in their retirement. Such a key decision that will affect the income you receive for the rest of your life requires careful thought. Once an annuity is purchased, in most circumstances it is not possible to change this.

The Annuity Bureau
The Annuity Bureau offers individuals access to whole of market comparison of the wide choice of annuity types, rates and providers available. This is achieved by either the individual using our online Annuity Supermarket to gather quotes and information or by us acting on instructions with regards to researching the market and implementing a purchase of an annuity.

The Drawdown Bureau
If you have a large retirement fund, or other investments you want to use for your retirement we would recommend that you talk to The Drawdown Bureau, which is part of the specialist Wealth Management division within Alexander Forbes that advises high earning or wealthy individuals on all aspects of their financial planning. The Drawdown Bureau are able to advise clients on the range of options they have to generate income from their pension pot and any other accrued assets to provide a bespoke retirement solution.