Pensions - Articles - Partnership comments on IRESS At Retirement Report

 Nigel Barlow, Director of Product Development at Partnership comments on IRESS inaugural At Retirement Report:

 “With so much uncertainty in the market at the moment, you might expect those who can delay retiring to do just that. What is perhaps more interesting is that the average pension pot for annuitants is at its highest level in two years according to this research. This seems to suggest that those who have smaller pots may be waiting until April 2015 but those who have larger pension funds are still choosing annuities as they may have access to more flexibility already.

 “The fact that this research reveals a gap between the best and worst annuity rates of as much as 12.5% clearly highlights that taking time to speak to a financial adviser and shopping around is something that everyone should be doing. There are annuities which provide excellent value and even annuities such as the Enhanced Choice Annuity that allow you to review your options after a year. People need to make sure that they find the right one for their situation rather than simply assuming that their existing pension provider can offer them the best deal.”