This is what happens when people do not bother to shop for an annuity policy.
30,000 ‘missed out on extra cash’ by taking annuity with existing provider
Research by the Pensions Policy Institute for insurer LV= found that around 30,000 people across the UK potentially missed out on additional income by not shopping around. – Belfast Telegraph Article
You normally don’t buy the first house or car that you see. And your retirement income for life is a lot more important than a house or a car. Do you know anyone who is poor at an old age? Not a pretty sight.
Annuities give a set income in retirement. While they give people a guarantee they will not run out of money in their old age, they have been controversial in recent years due to people failing to shop around for a better deal. – Belfast Telegraph Article
You need to get the best permanent income that is on the market. Period. We’ll find and rank the highest and lowest annuity rates available to you.