What to do after a quote

Information on the next step after receiving a quote

After receiving an annuity quote

Once the quote has been prepared and the choices have been made, we have a review department that carefully scrutinizes your existing pension plan for special terms and conditions. It’s their job to ensure that continuity is maintained from plan to policy.

They are trained to look out for discrepancies and bring them to your attention.

We check the fine print and make sure you understand it.

Making doubly sure

There are primary factors that we examine and report on to the customer

The term Guaranteed Annuity Rate applies to some pension schemes, this could mean that your existing pension company offers a better annuity rate than open market options.

Some pension plans can have transfer penalties, unusually dependent on how close you are to the retirement date. These fund adjustments are referred to as Market Value Reductions. MVR policy changes are often used by investment companies to align with changes in the tock market and secondly increases in the number of withdrawals taken by policy holders. Checking for these conditions is essential, and something we exercise close diligence upon.

There is also the Guaranteed Minimum Pension (GMP) which is the minimum pension that a UK occupational pension scheme has to provide for employees contracted out of SERPS (state earnings related pension scheme) between April 1978 and April 1997.

Rounding up, we talk to all the pension companies that have your funds, asking them any and all the relevant questions to ensure you have clear cut information to make the best decision.

We do the work for you

Not many people enjoy filing, sifting, sorting and completing paperwork, this is where are our professionals come and take over.  We deal with the forms, corresponding to your pension company(s) and to the annuity company. We take what can be a tiresome and complex process and turn it into an efficient stress free operation.

Our commitment from the team is to be certain that you receive and acknowledge frequent updates with respect to the annuity. We want to help you step into retirement and enjoy it, making sure you receive your cash lump sum at the earliest opportunity.

Want more information?

Retirement options should never be decided on a whim, they deserve careful consideration. We believe that all our customers should receive the same service and options that we ourselves want in our retirement. If you’re unsure about what is right for you, or you simply want further information to help you make the right decision please talk to us.

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