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New annuity flexibility worth exploring

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Friday February 18, 2011 at 10:00am

The new rules applying from 6 April are now known, with flexibility being the name of the game.

Annuity rates are very low at present, with no signs of that changing, and the new rules will allow you to draw income from your pension fund without having to buy an annuity. If you have a secured pension income of at least £20,000 a year you will even be able to access 100% of your pension fund if you wish (with an income tax charge on it of course) and the options in your particular circumstances need to be reviewed.

So if you are reaching the stage where you need to buy an annuity make sure you consider all the options and get the best possible advice from a qualified, financial advisor.

Andy Parker
Chartered Financial Planner


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