Fair Investment Company have launched a new pension annuity service which will aim to help people maximise their retirement income. George Ladds outlined the two-pronged approach which the service has adopted. He said… “…our new annuities service offers two retirement fund solutions – the first is an open market annuity service covering impaired life and standard annuities through The Annuity Team, the second, a pension drawdown service through the Fair Investment Advisory Service.”
So whether you are suited to drawdown or an annuity, this new service should help you find the best deal in retirement. With rates being at an historic low, it is even more important than ever that people shop around for an annuity. Not doing so can and does cost many retirees in terms of lost potential income. The amount of money you may lose out on varies, but for those who have serious illnesses or lifestyle choices that impact on life expectancy, this amount can be very substantive indeed.
Despite recent reforms in the rules governing the pension procurement process, the open market option is not the default option, as many industry observers would like.
