Blue River Annuities

Annuities - Frequently Asked Questions

What is a Pension Annuity?

A lifetime annuity converts your pension fund into an income paid to you for the rest of your life. You will usually need to buy a lifetime annuity if you have one of the following types of pensions –

• Personal Pension
• Stakeholder Pension
• Group Personal Pension
• Retirement Annuity Contract

When purchasing an annuity you have several different options including Lifetime Annuity, Unit Linked Annuity and Enhanced Life Annuities.

Do I have to buy an annuity through my pension provider?

There is no requirement for you to buy an annuity from your pension provider. The 'Open Market Option' means that you have the right to shop around for the best deal offered by any annuity provider. There is often a significant difference in the annuity rates offered by the UK's annuity providers and so not searching for the best deal can be damaging to your pension income and impact your prosperity in retirement.

How much income will I receive?

The amount you receive each year is dependent on a number of factors. Typically these will include –

• the annuity provider you choose
• life expectancy
• your age at the time of purchasing the annuity
• your sex
• the type of annuity you choose

Use our online annuity calculator for a quick estimate of your possible annuity income.

What type of annuity is right for me?

The type of annuity that is right for you will depend on your own individual circumstances and preferences. Since once you have committed to a particular annuity plan you usually won't be able to reverse your decision it is important that you take time to consider all the options available to you. Seeking professional advice before you make your decision is recommended.

For more information about lifetime annuities and your retirement options contact Blue River Annuities on 08000 936399. Alternatively complete the enquiry form and one our experienced annuity advisors will contact you.