A increasing number of annuitants are benefiting from enhanced annuities according to pension experts Towers Watson. Evidence gathered by the company shows that there has been a 24% increase in sales of enhanced annuities in 2009. The reason why more enhanced annuities are being sold is probably due to two main reasons.
Firstly, the fact that rates for conventional annuities have fallen heavily in recent times and secondly. the fact that the industry has started to wake up to the stark reality that millions of pensioners were missing out on potential retirement income due to them not being offered the best annuity.
Finding the best enhanced annuity will usually mean having to compare annuity offers between the various pension providers in the UK. Different providers can offer different rates and products, so it is always worth seeing what is available from your current provider’s rivals. And with the industry now presiding over faster annuity transfer times, you can get your hands on your money a lot faster than was previously the case!
