1. Complete the online annuity planner, or call our dedicated support team
In order to provide your personalised quotations, you will need to provide us with a range of information including your contact details, the value of your pension fund(s), as well as answer some health and lifestyle questions.
These questions enable us to identify if you could be entitled to an enhanced annuity which can generate a higher income of up to 40%*. Even minor ‘medical conditions’ such as high blood pressure, high cholesterol levels or being a smoker could give you an increased annual income.
Retirement is the one time when your medical and lifestyle situation could actually improve your lifetime income.
2. Receive your quotes
Once you have provided us with your details, you will receive quotes from a range of annuity providers. The quotes are illustrated in a simple to understand table displaying the annual income you will receive from each provider, shown in order of highest income first.
We compare quotes from leading annuity providers, including Aviva, Canada Life, Hodge Lifetime, Just, Retirement Advantage and Scottish Widows.
3. Compare and choose an annuity
Compare the quotes you receive through the Age UK Annuity Service to the quote you’ve received from your existing provider.
If you have been quoted a better annuity rate from your existing provider, great. If using the Age UK Annuity Service can get you more, then even better.
If you would prefer to receive some advice on your decision then HUB can put you in touch with an expert, which is likely to incur a fee.
4. Buying a guaranteed income for life
If you decide to accept one of the quotes you receive using the service, you can apply straightaway by clicking “Request application pack” online or asking your annuity coordinator to send you an application form to complete.
HUB will guide you through the information you’ll need to provide and will liaise with your pension provider to make sure you receive your retirement income promptly.
You could start receiving your retirement income in as little as two weeks from application.