Have we reached peak annuity rates?

flaneurs_lobster

Bimbly said:

I wouldn't like to advise you on whether to get your annuity now or later, but I certainly understand the need to get it "sorted" and so you don't have to worry about it any more. If you buy your annuity now, remember to stop looking at rates afterwards!

I'm in the process of evaluating annuities (and other options) and I haven't even considered what could be the worst case of "Buyer's Remorse" you are ever likely to suffer.

I get upset when the mobile phone I've just bought appears the next week for £30 less.......

sgx2000

I am currenty looking at Single RPI Annuities potentially with a guaranty period.
My wife is 17 years younger and building her own pension... 
So it would really reduce my pension if I opted for joint annuity.

Fortunately I already have a defered DB pension that started paying at 60
I am currently still working but would like to retire.....

My workplace pension,  with Aviva,  is only £77k ... ((still down about 7k  ...thanks Liz Tuss)
And 'lifestyled'....  grrr.... thanks Aviva   (little point in moving it now)

So I hopefully cant screw choices up too badly

But, obviously, choosing anuity now means I will be taxed on it at 20% on it

Bimbly

sgx2000 said:

But, obviously, choosing anuity now means I will be taxed on it at 20% on it

Can't you buy one now and set it to start paying at a future date? ie, when you retire? So at least you get your personal tax free allowance. Certainly, when you type illustrative figures into the money helper annuity calculator, it asks you when you want it to start.

sgx2000

Bimbly said:

sgx2000 said:

But, obviously, choosing anuity now means I will be taxed on it at 20% on it

Can't you buy one now and set it to start paying at a future date? ie, when you retire? So at least you get your personal tax free allowance. Certainly, when you type illustrative figures into the money helper annuity calculator, it asks you when you want it to start.

Good point...

The longer I spend looking into pension options, then more I realise ther are never black or white options....
Just lots of grey.?.