Updated: July 29, 2019

Pension Annuity Advisors

Find out what a specialist annuity advisor could do for you, how much their services cost and how to get matched with the right expert

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Tony Stevens

Author: Tony Stevens - Finance Expert

Updated: July 29, 2019

Getting an annuity can be complicated. It’s a long-term and most often permanent financial decision which can have massive implications on your financial well-being in later years.

That’s why it’s vitally important you get the right advice and thoroughly research all options, and most people work through an annuity advisor to do so. But the difference between the best annuity broker on the market and an amateur can be make or break when it comes to getting the best deal.

We’ve helped hundreds of people successfully get advice on annuities and we understand key concerns people have when dealing with brokers. We also know what services and qualifications to expect from a good broker.

In this article, we’ll cover:

What does an annuity broker do?

Good annuity brokers will have whole-of-market knowledge and can show you a range of annuity quotes from providers who would offer you the best deal for annuity ratesThey’ll also help you understand the contract details and offer a clear comparison of annuity fees.

Getting an annuity is a big and potentially life-changing decision, so experts recommend you work through an annuity consultant to make sure you understand all options available and the contract implications.

There are three main types of annuities: fixed, variable, and indexed, and a good annuity broker will help advise you on which one may work best for you. Annuities are sold through insurance companies, as well as some banks, mutual fund companies, and brokerage firms.

We only work with leading experts in order for you to gain the right advice. Make an enquiry today for a free, no-obligation chat about your annuity options.

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Working with an annuity advisor

In many situations, an annuity may not be the most profitable and secure option, that’s why it’s important the advisor you work with is fully independent and not trying to push a particular product or annuity.

In cases where advisors recommend you do get an annuity, they will help you understand investment options and what your risk profile is. They may even help you get prospectuses for the various mutual fund options you might want to invest in and help you compare various annuity planners.

If you’d like help in finding an annuity broker who is a match for your situation, we are well-positioned to help by putting you in touch with specialists with exactly the right expertise for you. Give us a call on 0808 189 0463 or make an enquiry.

Annuity options explained

Once you’ve decided what type of annuity you’re interested in buying (i.e. lifetime annuityenhanced annuity etc), a consultant will be able to talk you through your options in order to personalise your policy.

When tailoring your policy, consider the following:

  • How would you like your income paid? Do you want it to increase over time? Bear in mind that inflation may eat into your income, so you could start with a smaller income that increases year-by-year.
  • How often do you want to receive an income? You can choose to have an income each month or stagger it over months or even years.
  • Do you want a full annuity? You can choose more than one option. You may wish to put part of your pension an annuity plan and move the rest in a drawdown arrangement.

Remember that you can’t cancel or change an annuity once it’s been set up, so it’s always best to consider your options before you make a purchase.

Another major aspect to consider is what you want to do with your annuity once you pass away. You may be able to leave your pension to your loved ones after you’re gone (potentially tax-free), but again this would need to be arranged before you take out your policy.

Annuity companies

It’s highly recommended that you shop around for an annuity by sufficiently researching all annuity companies (including variable annuity companies), pension annuity options, and online annuity planners.

However, annuities are a complex area, so it’s always better to work through an annuity brokerage expert who can easily compare and explain whole of market annuity options.

If you go directly to a company with an online annuity finder, they will attempt to sell you solely on their offer. More often than not, it won’t be your top retirement annuity option.

Ask an annuity planner for a list of annuities companies that would offer you a good rate. A financial advisor could take the process a step further and show you any hidden annuity firms. They’ll help arrange the application and annuity company funds transfer process to ensure it’s as straightforward and efficient as possible.

Speak to an annuities planner today

If you’re looking into getting an annuity, but want to know where you can find an FCA registered financial advisor and annuity specialist for retirement planning, or you just want to get more pension annuity advice, give us a call.

We work with certified annuity specialists with many years of experience. They understand clients key concerns and questions around retirement annuity options.

Call 0808 189 0463 or make an enquiry and the experts we work with will give impartial advice and help you understand best annuity services for your pension pot.

Ask A Quick Question

We can help! We know everyone's circumstances are different, that's why we work with brokers who are experts in pensions Ask us a question and we'll get the best expert to help.

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Tony Stevens

Tony Stevens

Finance Expert

About the author

Tony has worked in a vastly diverse array of areas in the pensions industry for over 20 years. Tony regularly writes for trade press, usually on topical and pensions pieces as well as acting as a judge at prestigious national events.

Tony is also a highly qualified Independent Financial Adviser in his own right. His mantra has always been “Hope for the best, but plan for the worst”, and believes that the biggest impact that an adviser can have on a client’s life journey is to take them on a journey from generally having little or no real idea of what their retirement will look like, to giving them the understanding of what their retirement looks like now, then helping them navigate a path to what they want their retirement to be.

FCA Disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms that are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

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