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Payment Frequency

You can choose for your annuity to be paid monthly, quarterly, half-yearly or annually. You can also choose whether you have it paid in advance or in arrears. In arrears will be higher income than in advance as there is one less payment upfront.
We would tend to suggest that because most people pay their bills monthly, that the annuity payment fits your lifestyle. It is also likely that this income is replacing a monthly salary.

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    News

    Why take Drawdown advice?

    The Financial Conduct Authority (FCA) produced a report called the Retirement Outcomes Review (MS16/1.3) in June 2018 which commented on how benefits were being taken since the Pension Freedom and Choice legislation was introduced in April 2015.

    Final Salary Pension Schemes

    This will effect you if you have a deferred Final Salary Pension plan or Defined Benefit Pension. If you are a deferred member, i.e., you have left your employer but the pension is not due for payment until your normal retirement date (65?), your right to a Cash Equivalent Transfer Value (CETV) may be affected.

    Budget 2014 – The key changes for annuities

    Using a Fixed Term Annuity or Drawdown will allow you to access 25% of your fund as a tax free lump sum and leaves the remainder of your benefits to be accessed under the further changes proposed from 2015. Therefore, in the interim, this leaves the door open for your options.