Flexible Annuities

Flexible Annuities

Compare Pension Services

Compare UK Pension Services

Compare pension services for self invested pensions (SIPPs)  where you can pull your existing pension plans into one place.
Lost track of old pension plans? Service for tracking down plans from previous employments.
Annuity service if you are looking to buy a guaranteed income from your pension pot.

FREE Guide – Retiring Early!

8 tips for an earlier, wealthier retirement

Transforming that dream into a reality doesn’t come cheap, how could you afford it? Once you have paid off debts, like it or not, the answer is likely to depend on your pension.

Straightforward guide provides eight tips that could help you to retire earlier than you thought, including:

  • The simple formula for how much you should consider investing each month
  • How to boost existing pensions
  • Understanding the options available at retirement (including the new rules)

This guide is not personal advice. Please remember tax rules can change and the value of the tax benefits will depend on your circumstances. The value of investments can fall as well as rise so you could get back less than you invest. Pensions cannot usually be withdrawn until age 55 (increasing to 57 in 2028).

FREE Guide – 8 Tips To Retire At 55 »

Self Invested Pension

Take Control of your pension!

self-invested personal pension (SIPP) is different to a traditional pension. Instead of limiting your investment options, a SIPP opens the doors, giving you more choice in how you invest your money.

Like other pensions, the government will still give you up to 46% tax relief on the amount you pay in. Once your money is in a SIPP, you won’t have to pay tax on any gains or income your investments make.

  • Security – Hargreaves Lansdown are a FTSE 100 company and the UK’s biggest SIPP provider
  • Control – Check your pension whenever you like, online and with the HL app
  • Support – Pensions Helpdesk is on hand to answer your questions six days a week
  • Expertise – Research, ideas, and updates to help you with your investment decisions

Low Cost Self Invested Pension »

Self Invested Pension – FREE Guide

Compare Self Invested Pension Providers

SIPP Name
Interactive Investor SIPP
Set Up Fee
FREE
Annual Fee
£120
Features
A low cost award-winning SIPP that gives you a choice of over 40,000 investments
SIPP Name
Hargreaves Lansdown Vantage SIPP
Set Up Fee
FREE
Annual Fee
0.45% (max £200)
Features

Choose from more than 2,500 funds, shares, investment trusts, gilts, corporate bonds, ETFs and cash

Pension Name
Pension Bee Personal Pension
Set Up Fee
FREE
Annual Fee
From 0.5% to 0.95%
Features

100% FSCS protected range of 7 different Pension Plans,  managed by the world’s biggest fund managers

Pension Name
Nutmeg Personal Pension
Set Up Fee
FREE
Annual Fee
From 0.35% to 0.75% including VAT
Features

In a nutshell we choose investments for you and then, with your contributions, build and manage your pension portfolio on your behalf

SIPP Name
AJ Bell Youinvest SIPP
Set Up Fee
FREE
Annual Fee
Tiered up to £100
Features

The AJ Bell Youinvest SIPP has over 4,000 funds and over 21 markets, investment trusts, tracker funds (ETFs) and stocks and shares to choose from

Annuity Services

Annual Income
£5,138
Payment Terms
Annual income for life
Purchase Amount
£100,000

Pension Finder & Transfer Service

Setup Fee
No Fee
Annual Fee
From 0.35% pa
Pension Service
PensionBee will find all your old pensions and combine them into a single, good-value, online plan.
Drawdown Option

Pension Bee Finder & Consolidation Service

Flexible Annuities

Flexible annuities, as the name suggests, allows you to have flexibility in the amount of income taken from your annuity.

Conventional annuities offer an income for the remainder of your lifetime which is fixed at outset. The annuity company takes on the responsibility of investment risk – irrespective of how they invest your capital and what sort of investment returns are achieved, a conventional annuity income is guaranteed. Conventional annuities can be considered low risk as you know what you are going to receive.

Flexible annuities, however, put the onus for investment risk back on you. They are more suitable for larger funds or where the annuity will NOT form the mainstay of your income in retirement. Flexible annuities come in two main forms:-

Short term annuity – rolling 5 year annuity:

The majority of your fund remains invested but a proportion is used to purchase a temporary annuity with a term of five years. You receive an income for five years from the temporary annuity with the intention that investment returns will grow the remaining investment fund to such a degree that after five years the available fund would provide you with a greater income.

Flexible annuity allows you to take income between set limits with the remaining fund continuing to be invested. A conventional annuity must be purchased by age 90. Again, the intention of this is that the fund available to you when you finally purchase your annuity has grown in value and the annuity income available from it has consequently grown also.

Whereas a conventional annuity is considered low risk, flexible annuities are not. Part of your investment fund remains invested (in stocks, shares, bonds, cash, commercial property, etc) and will be subject to the volatility of the stock market, interest rates, property prices, rental yields, etc, and so it is possible that when you come to purchase your conventional annuity, the value of the fund has fallen and the annuity income has also fallen.

Both these investment options require significant input from an investment specialist on a very regular basis who will be able to construct an appropriately styled investment portfolio that is capable of providing both income now and capital growth in the future.

10 COSTLY PENSION MISTAKES

10 Costly Pension Mistakes Millions of Britons Make

  • How to discover if your pension will be enough
  • What ‘free money’ most private sector workers miss out on
  • How to get a share of £41 billion from the taxman
  • How to benefit from the pension freedoms and avoid the traps

FREE Guide – 10 Costly Pension Mistakes »

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