Comparing annuity providers is 'vital' in order to get the highest retirement income

April 25, 2012 (PRLEAP.COM) Business News
Comparing annuity providers using the open market option is 'vital' in order to secure the maximum retirement income, according to retirement specialists Annuity City. In some cases, this could mean an increase of up to 40% or more, depending on the individual retiree. With rates having fallen by over 11% since the summer of 2009, it is more important than ever that those who are thinking of buying an annuity compare providers for the best deal.

A combination of lower gilt yields and increasing life expectancy has left those having to buy an annuity seemingly worse off as each year passes. However just by comparing providers those approaching retirement can often increase their annuity offer by finding best annuity rates.

Using the Annuity City site, visitors can find useful information about all the different types of annuities available as well as other alternative options such as income drawdown. In addition to annuity information you can also browse up to date industry news within the blog section, offering the very latest market information. Those who would like further information or an annuity quote can be put in touch with an annuity specialist who can advise them on their options in retirement.

Although comparing annuities can help to increase retirement income, a huge number of annuitants fail to exercise their right to use the open market option and simply take the first offer from their incumbent pension provider. Oscar James, head of marketing at Annuity City says that retirees could be missing out on thousands of pounds of potential income arguing that…"….you really have nothing to lose and everything to gain by comparing annuity providers. If you find you are eligible for an enhanced annuity you could increase your annuity offer by an average of 20% compared with level rates."

About Annuity City.

Annuity City is a leading provider of annuity rates information. By completing one simple form those approaching retirement can be connected to a team of financial advisors with specialist knowledge of the retirement market.