'Don't lose out on retirement'

At retirement, the difference between the amount of annuity offered by an existing pension plan provider and what can be achieved on the open market is substantial. This is particularly the case as annuity rates are at a 5-year high, yet fewer than half of those retiring move their funds to benefit from a higher rate.

According to recent statistics retirees are missing out to the extent of £500m per annum!

Not only can improved terms be obtained on the open market by moving a fund to another provider but it is also possible to obtain improved terms for smokers, those in ill health and even based on post code.

Providers tend to come in to the market to increase their exposure to this type of business by providing competitive terms, but then withdraw by offering uncompetitive terms, which are still accepted by the unwary or those who do not take proper advice.

Please contact your usual adviser at Lycetts for details of the best annuity rates available.