pension annuity help

jumbles_2

me again, we have spoken and advising hubby to have joint annutiy that I would get 1/2 when he dies, my pot £28K just have an annuity ( will pay council tax until that exceeds annuity) we are waiting figures now from various ins cos, thinks drawdown is not for us- all very confusing, keep you posted

dunstonh

Good luck. Remember to tell the IFA doing the Open Market Option if you are smokers or have any health issues/medication.

Even high blood pressure or high cholesterol can lead to better rates. Also, with some annuities (only a small number) you can get buy back options which can pay back the "unpaid" capital in the event of death.

jumbles_2

Hello update advisor said approx £6k pa for OH on pot of £118k thinks this is th best we will get and is a fixed amount I will get 100% if OH dies, looked at annuity rates from sites you have mentioned and I think I can do better with their basic rates.


Mentioned that cause of change of circumstances may put off claiming pension for 3 yrs, advisor said no benefit claim now????

Also have one policy where Ins co have written that there is £14 K but on the sheet with the other policies the total for that one is £11k a diff of £3k :eek: and I was told they go up and down ( in 3 mths) also OH is on a fee - mine commission- any comments- as you guys seem to have the answers- thanks