Annuity service | Getting you a higher income in retirement

Buying an annuity

An annuity turns your pension fund into an income for life. Choosing an annuity is a once in a lifetime decision so it is important to make the right choice – there can up as much as 45% difference between the best and worst rates offered by annuity providers*.

Many people don’t realise that they are not obliged to buy an annuity from their pension company. You have a right to shop around for the best deal from the provider of your choice. However once you have bought an annuity you normally cannot change provider, so this really is a decision you will have to live with for the rest of your life.

This can be a daunting prospect – clearly you want to choose an annuity that best suits your lifestyle and likely income requirements.

* Source The Open Market Annuity Service November 2012. Based on a male aged 65 with a £22,500 fund, 10 year guaranteed period, 5% escalation, no value protection, based on a banded postcode, compared to the best and worst conventional annuity rates.

How our annuity service works

We do not charge a fee for our service**, which is straightforward and easy to use:

• You provide TOMAS with information about yourself and your pension fund.
• TOMAS sends you a personal report which takes you through your options, step-by-step, so you can choose the right type of annuity for your circumstances.
• TOMAS then searches the market to find the best terms for the type of annuity you have chosen.
• TOMAS takes care of all the paperwork, answer any queries and ensure that the payment arrives in your bank account.

** TOMAS will receive a commission payment from the annuity provider if you proceed. A proportion of this will be paid to Lighthouse Financial Advice Limited, details of which can be provided on request.