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Buying an Annuity. Help!!
peteatreat
Posts: 6 Forumite
Hi there.
My Mum-in-Law has just retired and has 3 small pension plans with a fund of approx £30k. She is looking to take the tax free element and then have a smaller monthly pension. She is not looking to guarantee this income nor to have it linked to inflation or RPI. It is a single life policy.
As neither of us are experts in this it seems a minefield out there and we do not know what to do for the best. She does not want to make a mistake and choose the wrong Annuity provider as any rash decision could be costly.
Please help. Thanks.
My Mum-in-Law has just retired and has 3 small pension plans with a fund of approx £30k. She is looking to take the tax free element and then have a smaller monthly pension. She is not looking to guarantee this income nor to have it linked to inflation or RPI. It is a single life policy.
As neither of us are experts in this it seems a minefield out there and we do not know what to do for the best. She does not want to make a mistake and choose the wrong Annuity provider as any rash decision could be costly.
Please help. Thanks.
0
Comments
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You see an IFA who will search the open market options.0
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To get a general idea of how much she could get, you can check out the pension annuity tables here.You may need to amalgamate the funds to get the best deal.
https://www.fsa.gov.uk/tablesTrying to keep it simple...
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Thank you both very much for your advice.0
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