Thinking ahead about buying an annuity?

If you're not planning to purchase your annuity for at least six months, you don't need to make any decisions yet, but now is the perfect time to ensure you're prepared for when the time comes.

Consider your retirement objectives

Your income has to last your lifetime so it's a good idea to start thinking about what life will be like when you've retired. Remember that your needs are likely to be different now and in the future, and it's important to account for inflation.

Our Retirement Calculator can help you see how close you are to meeting your financial goals.

Maximise your income potential

Topping up your pension(s) and/or combining your pension funds, can help boost your retirement fund and increase your options when it comes to buying your annuity.

You should also think about other investments, such as tax-efficient Individual Savings Accounts.

To find out how much income your pension could provide, you can get a free personalised annuity quote.

Decide which annuity options best suit you

There are many types of annuity with different options available to suit different needs. You might also want to receive some of your pension as a tax-free cash lump sum.

You don't have to buy your annuity from the same company you have your pension with - you can shop around for the one that suits you. But remember that once you've bought your annuity you can't normally change your mind.

To help work out the best option for you, try our interactive guide to choosing your annuity.