quotes for annuities

ngstox

I am looking to get quotes for an annuity. I have about £150k available in a DC pension. What brokers/companies should I approach for a quote?

FIREDreamer

ngstox said:

I am looking to get quotes for an annuity. I have about £150k available in a DC pension. What brokers/companies should I approach for a quote?

Try here …

https://annuitysupermarket.hl.co.uk/personalclient.aspx

I used these to purchase an annuity myself. Various providers will provide a quote here, eg Just Annuities, Standard Life, Aviva, Canada Life and Scottish Widows.

Pat38493

ngstox said:

I am looking to get quotes for an annuity. I have about £150k available in a DC pension. What brokers/companies should I approach for a quote?

Also this site has often been quoted:
https://www.moneyhelper.org.uk/en/pensions-and-retirement/taking-your-pension/compare-annuities

It may also be worth looking at the option of getting an annuity through an IFA - they can sometimes get you a better deal even after their fees are taken into account, especially if you have health conditions that needs to be factored in.

attila_123

Pat38493 said:

ngstox said:

I am looking to get quotes for an annuity. I have about £150k available in a DC pension. What brokers/companies should I approach for a quote?

Also this site has often been quoted:
https://www.moneyhelper.org.uk/en/pensions-and-retirement/taking-your-pension/compare-annuities

It may also be worth looking at the option of getting an annuity through an IFA - they can sometimes get you a better deal even after their fees are taken into account, especially if you have health conditions that needs to be factored in.

The health conditions confuse me a bit. Isn’t it in the annuity providers interest that someone has poor health conditions? Or have I misunderstood? 

Pat38493

attila_123 said:

Pat38493 said:

ngstox said:

I am looking to get quotes for an annuity. I have about £150k available in a DC pension. What brokers/companies should I approach for a quote?

Also this site has often been quoted:
https://www.moneyhelper.org.uk/en/pensions-and-retirement/taking-your-pension/compare-annuities

It may also be worth looking at the option of getting an annuity through an IFA - they can sometimes get you a better deal even after their fees are taken into account, especially if you have health conditions that needs to be factored in.

The health conditions confuse me a bit. Isn’t it in the annuity providers interest that someone has poor health conditions? Or have I misunderstood? 

If you have health or lifestyle conditions which could impact on your lifespan you will get a better annuity rate.  IFAs on this board have stated that they can offer get better deals in these situations.  

dunstonh

ngstox said:

I am looking to get quotes for an annuity. I have about £150k available in a DC pension. What brokers/companies should I approach for a quote?

IFAs generally get the best rates. So, any IFA local to you.  Your pot is a size that an IFA should result in a lower fee than the internet commission based sites.

sgx2000

Hargraves Lansdown has a good quote engine
Or try the providers direct
L&G have constantly been the highest for me

But annuitiy dates appear to be dropping

ngstox

Thanks for all your comments. Any suggestions on how I find a good IFA?  I'm in the Coventry area (if that's relevant).

aldershot

Be aware that 15y gilt yields (upon which annuities are generally based) have fallen dramatically over the past 2 months (from 4.98% to 3.87% as of today) so annuity rates, although still much better than they were when yields were sub 1%, will not be as high as you would have seen a few months ago. 

westv

aldershot said:

Be aware that 15y gilt yields (upon which annuities are generally based) have fallen dramatically over the past 2 months (from 4.98% to 3.87% as of today) so annuity rates, although still much better than they were when yields were sub 1%, will not be as high as you would have seen a few months ago. 

But pots to buy an annuity may be higher.

Hoenir

aldershot said:

Be aware that 15y gilt yields (upon which annuities are generally based) have fallen dramatically over the past 2 months (from 4.98% to 3.87% as of today) so annuity rates, although still much better than they were when yields were sub 1%, will not be as high as you would have seen a few months ago. 

Equities have risen though. Days of free lunches are over.