Guarantee your retirement income with an annuity

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The Moneyfacts Annuity Service, provided by HUB Financial Solutions, can help you to shop around for the right annuity to suit your needs. We'll explain the options you have when setting up your annuity, so that you can decide how to personalise your annuity to meet your needs. And, as we don't give you financial advice, there's no advice fee to pay.

Do you want the security of a guaranteed income for your retirement?

An annuity is still the only product that will give you a guaranteed income paid regularly to you for the whole of your retirement.

You can also enjoy:

• The reassurance of knowing exactly how much you can expect in each payment
• Peace of mind that your income will continue exactly how you have set it up to - no matter what the stock market does
• Flexibility to set up your annuity to meet your needs whether that's providing for loved ones or keeping up with inflation
• The ability to take up to 25% tax-free cash

'But what about leaving something to my loved ones for when I'm no longer around?'

With an annuity you have the option to protect your money and pass it on to loved ones, and not the insurance company, following your death.

'How can I shape my annuity to suit me?'

Tax-free cash

At the point you decide to start taking your pension fund as income, you can choose to take up to 25% of your pension as a one-off payment, free of tax. Of course, you don't have to take any at all if you prefer.

With some providers you can choose to take more than your 25% allowance, however anything above this will be taxed at your marginal rate. But beware, the more you take out at this stage, the less you'll receive in your regular payments.

Tell us about your health and lifestyle factors

Current and past health conditions and your lifestyle, as well as those of your dependants, could significantly increase your annuity income. By giving us as much detail as you can, from stating your postcode through to your lifestyle and medical history, we could help you achieve more income during your retirement.

Ability to leave a cash lump sum or income to your beneficiaries

An annuity will last as long as you do. So, if you want to make sure you get as much of your money back as possible in the event of an early death, you can choose death benefit options. This means your loved ones can receive an income or a cash lump sum when you die.

Protection from inflation

You can choose for your income to remain at the same amount as it was the day you set up the plan. Or, you can choose for it to increase annually to offset the effects of inflation.

How often would you like to receive your annuity payments?

You can choose how often you want your annuity income to be paid. Do you want to receive it monthly, annually or perhaps every six months for example? You can also choose whether you want to be paid in advance or arrears.

Shopping around could get you a better deal - meaning more income in your retirement than you first thought

Remember, you don’t have to buy your annuity from the company that you’ve got your pension savings with. There may be a better deal elsewhere, so it could pay to shop around.

In fact, the Financial Conduct Authority (the industry regulator) have put in place 'information prompts' to appear alongside every annuity quote – to encourage consumers to shop around for the best annuity rates available, and help people be better informed.

We’ll help you create a personalised annuity and compare rates for you. In less than an hour our team could find you a better deal that gives you a higher income that’s guaranteed for life. Call 01737 233 435* and quote MF106.

Tell us about your health and lifestyle and you could be entitled to more money in your retirement

If you shop around and don't stay with your current provider you will see that not all annuities give you the same income.

There will have been other times in your life where you may not have wanted to disclose your health conditions or lifestyle factors for fear of higher premiums. With an annuity it’s different. By telling us about your health and lifestyle you could be entitled to more money in retirement.

• If you've been diagnosed with a serious medical condition, or have had one in the past, you could get up to 40% more income during your retirement^.

There's a range of questions we ask to see if you qualify for an enhancement to your annuity:

• Are you a smoker?
• Do you have high cholesterol?
• Are you overweight?
• Do you have serious or life-threatening medical conditions?
• Do you have raised blood pressure?
• Have you ever been hospitalised?

If you feel that you might qualify for another condition, it's worth getting in touch with us.

Call 01737 233 435* and quote MF106 to compare annuity rates.

Is an annuity and guaranteed income right for me?

You now have more pension options than ever before which can be a bit daunting. So, if you’re unsure what to do with your pension savings, go online and visit Pension Wise, a free and impartial government service that offers guidance to people approaching retirement. You can arrange a phone or face-to-face appointment with a pension specialist.

Try our free Online Annuity Planner

Our friendly team are ready to help you compare your annuity quotes over the phone. Call 01737 233 435* and quote MF106. Let our team find you a better deal for your retirement income.

Alternatively our handy online tool is designed to help you compare annuities and guarantee your income for life.

Compare annuities with our Online Annuity Planner today

^The information was prepared in Feb 2018. The 40% is achieved by comparing the lowest standard rate against the best enhanced rate for severe medical conditions, for a 65 year old. Quotes have been based on a pension pot of £25,000. Smaller increases will be achieved for less serious medical or lifestyle conditions.

More useful information

Annuity jargon guide

How to get the most from your annuity

Pensions Guides

How to find lost pensions

Moneyfacts.co.uk has chosen HUB Financial Solutions to offer an annuity comparison service. Any legal or contractual relationship will be between you and HUB Financial Solutions.

*Lines are open Monday to Friday, except Bank Holidays, 9am to 8pm and call charges may apply. Calls are monitored for training and regulatory purposes.

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The Moneyfacts Annuity Service is provided by HUB Financial Solutions Limited.

HUB Financial Solutions Limited. Registered office: Vale House, Roebuck Close, Bancroft Road, Reigate, Surrey RH2 7RU. Registered in England and Wales No. 05125701. HUB Financial Solutions Limited is authorised and regulated by the Financial Conduct Authority. Part of Just Group plc.