taken annuity - can you change?

TheSaint_2

my dad accepted the offer he was sent by his pension company. he did not realise you can shop around at the time. is it too late to change?

thanks.

mania112

Has he received any money yet?

TheSaint_2

unfortunately yes.

bigfreddiel

TheSaint wrote: »

... he did not realise you can shop around ....

what i don't get is why do people not know they can shop around?

its been in all the newspapers for many years

the annuity documentation mentions this

is it that no one reads the press or documentation

just curious

fj

TheSaint_2

well, I have already told him off too. he says it did not say he could in the docs they sent, but he is probably just not reading it through properly.

so, is there anything that he can do?

dunstonh

TheSaint wrote: »

well, I have already told him off too. he says it did not say he could in the docs they sent, but he is probably just not reading it through properly.

so, is there anything that he can do?

It has been in every commencement pack for some years now.

Whilst legislation now allows the unwinding of annuities, most providers do not allow it after the cancellation rights period.

TheSaint_2

thanks, I will let him know.

cheers.

jamesd

If it was done within a couple of weeks it might not be too late. Much longer than that and it will be unless say he has health problems that affect his life expectancy and he mentioned that to them.