Why use the PAAS retirement advice service?
It is imperative for your financial wellbeing that you take
time out to investigate the possibilities open to you at and in retirement.
As you are probably aware, you can use your pension fund to purchase your
retirement annuity from a range of companies, not just from the company where
your pension fund is currently sitting.
If appointed by you, we act on your behalf to obtain the best package for
you as an individual. We definitely have no involvement with insurance company
marketing departments, or have any tie-ups whatsoever, and as a result, there
is absolutely no bias when researching and sourcing products on your behalf.
Other than purchasing your annuity at retirement, you may wish to investigate
phased retirement, income drawdown, flexible annuities, etc. You can find
out more about these options by visiting the rest of this site.
If you opt to take a conventional annuity at retirement,
then the overall determining factor will be the annuity rate being offered
by the company. It is essential to use an independent company, which will
obtain annuity quotes in order to determine the most favourable rates on offer.
It is important to understand that there are other factors which cannot be
dismissed whilst comparing annuity rates, such as insurance company financial
strength. This is particularly important when you consider the recent Equitable
Life situation, and also weaknesses and financial problems have been identified
in several of the large insurance companies. Although you cannot predict what
will happen in the future with these insurance companies, you can take measures
to ensure that you are as well informed as possible at the time of annuity
purchase. This is where independent advisers can research on your behalf,
using a wide range of systems and information sources.
Q - You may ask "how much will this independent advice service cost me?"
A - well, the surprising fact is that it will cost you not a penny more than
if you buy your annuity directly from the insurance company - they will definitely
not give you independent advice on what's available from the marketplace.
Q - How is it possible to obtain independent advice at no extra cost than
if I go direct to an insurance company.
A - Well, the insurance companies have to sell their products otherwise they
would be out of business. Insurance companies understand how expensive it
is to employ a sales force, and as a consequence are happy to pay an independent
adviser commission as it removes the need for them to pay a sales force and
to have the associatied liablities involved in employing sales forces. The
benefit if you use an independent annuity advisor, is that you will receive
advice and help in obtaining the most suitable retirement package, otherwise
by going directly to the insurance company you may receive a lower retirement
pension and the insurance company will consequently pocket the commission
which could have been used to give you independent advice.
Please note that our "advice service" can be accessed by selecting
the "Getting started"
menu option.
