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MGM Advantage Flexiable Income Annuity
swifty_2
Posts: 57 Forumite
My wife is now considering her options concerning her annuity, her Financal Advisor has asked her to consider MGM Advantage Flexiable Income Annuity.
Can any of the Pension Experts on the forum please give us their opinion on this package.
Thank you.
Can any of the Pension Experts on the forum please give us their opinion on this package.
Thank you.
0
Comments
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What other options has she considered, and is this going to be her only pension income?I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
her Financal Advisor has asked her to consider MGM Advantage Flexiable Income Annuity.
An FAs job it to put the decision in the persons hands. An IFAs job is to eliminate options and present the most suitable. In some areas there will be discussion on options to gauge risk profile and the pros and cons but based on those discussions, the IFA should make the decision. It should not be left to you to consider.
Is there anything about it that you like?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thank you for your replies.
My pension is the main pension and it is linked to CPI, my wife would recieve 2/3 of my pension, if I depart first.
My wifes pension is a money purchase scheme, so she has to eventually purchase an annunity. With annunities at rock bottom we quite like the look of the MGM Advantage scheme.
We know their are risks of it going down as well as up, one of the main points we like is the option to transfer to a traditional annunity in the future.
We were really after the opinion of the professionals on the forum to the option of the flexiable annunity and the MGM Advantage scheme in particular.
Thank you.0 -
We were really after the opinion of the professionals on the forum to the option of the flexiable annunity and the MGM Advantage scheme in particular.
Personally, I prefer conventional unsecured pension income as it is cheaper and more flexible.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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