Let’s start at the beginning
Our service is completely free of charge to you as we receive payment from your chosen annuity provider.
What is a pension annuity?
An annuity provides a regular income in exchange for a lump sum. When you are ready to convert the money built up in your pension/s into a regular income, the most popular way to go about this is a conventional annuity.
You can usually take up to 25% of the total amount as a tax-free lump sum, but the rest can be converted into an annuity, so you receive a regular income.
When you are ready to receive your pension, your current provider/s will write to advise you of your fund values and tell you how much income you would receive from them.
At this point, it is time to use your ‘open market option’ and let Key shop around for the best deal for you.
If you don’t talk to Key, you could be missing out on a greater retirement income. Plus, our expert annuity service can provide all of the information and guidance you need to select the options which are right for you completely FREE of charge – as we receive payment from your chosen provider.
Remember, once you have purchased an annuity it cannot be changed. It is vital you find a service which helps you find the right annuity as there is no second chance.