Re­mem­ber to shop around

The Peterborough Evening Telegraph - - Etbusiness -

AS I write this I am sit­ting at my desk look­ing out at the sun­shine, won­der­ing if sum­mer is fi­nally with us and of course, if so, how long will it last.

This is the time of year when a lot of peo­ple who are com­ing up to re­tire­ment age be­gin to think about the “big day”, the day when they will fi­nally cast off the shack­les of the nine to five rou­tine and the 20 days an­nual hol­i­day en­ti­tle­ment.

They think about how nice it would be just to be able to spend that ex­tra few days with the grand­chil­dren they may only see for a few weeks ev­ery year, or how nice it would be to tag an ex­tra week on to their hol­i­day as they have en­joyed it so much. And, how nice would it be to not have to take a week of that pre­cious hol­i­day en­ti­tle­ment to dec­o­rate the sit­ting room or paint the out­side of the house.

But of course, all these dreams de­pend on one com­mon fac­tor, how much in­come is your pen­sion pot go­ing to gen­er­ate for you.

The money that is sit­ting in your pen­sion pot is quite pos­si­bly go­ing to be the largest amount of cash you will have other than what is locked in your house if you are a home owner, and please, make no mis­take, the money that is in your pen­sion pot is ev­ery bit your money as if you had saved it in the build­ing so­ci­ety.

So, and I know that my reg­u­lar read­ers know what I am go­ing to say, you must make sure that ei­ther you or your fi­nan­cial ad­viser en­deav­ours to get you the best deal pos­si­ble for your an­nu­ity by shop­ping around. You are go­ing to be in re­tire­ment for a long time, make sure it is the best time for you.

You can re­search the mar­ket your­self by go­ing to any of the reg­is­tered re­tire­ment in­come bro­kers or by find­ing your­self a reg­is­tered IFA in your area.

Re­tire­ment in­come is a spe­cialised sub­ject and not all IFAs are fully con­ver­sant in this field and do not have the ex­per­tise or fa­cil­i­ties to re­search the whole of mar­ket to en­sure that they get the prod­uct that is right for their client, es­pe­cially if their client has a small fund. How­ever, that is all set to change as IFAs now have the fa­cil­ity, via the An­nu­ity Clear­ing House (ACH), to achieve a bet­ter deal for their clients, no mat­ter what the size of their pen­sion fund. All they will have to do is just spend a few min­utes ei­ther on the web­site or tele­phone and through the won­ders of mod­ern technology, com­plete a search against some of the UK’s lead­ing an­nu­ity providers in just a few mo­ments and pro­duce a sin­gle ap­pli­ca­tion form.

We, here at Rock­ing­ham, launched the ACH ser­vice to IFAs ear­lier this month as a fur­ther step in our cam­paign to en­sure all in­di­vid­u­als have the chance to achieve the high­est amount pos­si­ble for their re­tire­ment in­come. The IFA need no longer worry that he may not be se­cur­ing the best deal for his client, you.

So, go back out­side and en­joy the sun­shine, con­tinue to dream of the ex­tended hol­i­days and the car­a­van or apart­ment in the sun that you will buy with your tax-free cash and all those ex­tra hours with your grand­chil­dren, be­cause help is out there for all of you. Just re­mem­ber to shop around.

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