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  • FIRST POST
    • dillonthedog
    • By dillonthedog 17th Jun 19, 4:42 PM
    • 8Posts
    • 0Thanks
    dillonthedog
    Best Annuity Comparison Tool
    • #1
    • 17th Jun 19, 4:42 PM
    Best Annuity Comparison Tool 17th Jun 19 at 4:42 PM
    Hello


    I reach 60 in Oct 2019.



    I had a small previous employer annuity quote - 57029 lump sum paying annuity of 2702.16 pa. This has been dealt with but I was using the numbers as a benchmark only.


    My serps pension is with Aviva. Lump sum 64277 currently projecting annuity of 2419.50. I thought this was low compared to the first above, so I used the pensionwise/MSE tool comparison.moneyadviceservice.org.uk to see comparisons - 'Just' was top @ 2028, then Canada Life @ 1848 then Aviva @1728. If I use the Aviva site tool proper, it comes close to the 2419 per their letter.


    Are there any other decent annuity comparison sites ? because the moneyadviceservice one is inaccurate. Alternatively is best option to manually trawl through each of the 'top' five providers by phone/tool given the moneyadviceservice tool is way off.
Page 1
    • zagfles
    • By zagfles 17th Jun 19, 6:42 PM
    • 14,243 Posts
    • 12,410 Thanks
    zagfles
    • #2
    • 17th Jun 19, 6:42 PM
    • #2
    • 17th Jun 19, 6:42 PM
    Are you sure you're comparing like with like, ie same indexation, same guarantee, same spouse benefit etc?

    Cavendish used to be a good annuity discount broker but they don't seem to do it anymore, or at least if they do it's well hidden on their website! I guess there's far less demand for annuities than they used to be.

    Be very careful with a level (ie non index linked annuity) as you expose yourself to a lot of inflation risk, particularly in the current climate!
    • dillonthedog
    • By dillonthedog 17th Jun 19, 8:01 PM
    • 8 Posts
    • 0 Thanks
    dillonthedog
    • #3
    • 17th Jun 19, 8:01 PM
    • #3
    • 17th Jun 19, 8:01 PM
    Are you sure you're comparing like with like, ie same indexation, same guarantee, same spouse benefit etc?
    Originally posted by zagfles

    Thanks. Yes, the information input was identical, and as I said when I actually inputted the info on the Aviva site as opposed to the moneyadvice site, it was similar to the Aviva letter/numbers. I was just a bit gobsmacked it was so far out. I've asked both Aviva and pensionwise if there are any comparison tools and the only one they will recommend is the moneyadvice site. If no alternatives, I'll just have to manually check.
    • westv
    • By westv 17th Jun 19, 9:48 PM
    • 4,829 Posts
    • 2,411 Thanks
    westv
    • #4
    • 17th Jun 19, 9:48 PM
    • #4
    • 17th Jun 19, 9:48 PM
    HL have one too. May I ask why you are considering an annuity at 60 rather than drawdown?
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