10:16 07 December 2013
Most pension packages come with something called the open–market option. This is something everyone should mull over and many people do not because they do not want the confusing hassle of shopping around.
However, finding the right annuity can actually increase your retirement income by as much as 120%. It is absolutely essential that everyone takes the time to shop around in order to capitalise on their potential income gains.
It is important to realise that purchasing an annuity is a once in a lifetime deal. The interest rate you purchase determines what your income will be for the life of the fund.
Here are some tips:
You can find plenty of information available when you decide to shop around for pension annuities. Remember shopping around can help you double your retirement money and afford you a comfortable lifestyle through your golden years.