01483715823 info@ifadirect.co.uk

Retiring soon?

Download a form under one of the following 2 options, as best suited to your situation, to ensure you are getting the best annuity option available to you:

Access and complete this application form online if you are fit and well and a non-smoker

Complete this application form if you smoke and/or have high blood pressure/cholesterol, or diabetes, or are overweight, or have cancer, a heart condition or other medical conditions.

At retirement, an annuity is the most suitable option for the majority, and even if an alternative is selected at retirement, many of those will eventually convert to an annuity. Now is the time for all us reticent Brits to abandon the habits of a lifetime. You have just come back from meeting up with an old friend.

“How are you?", he said.

“I am fine” you replied. The reality is that you have just received the bad news from the consultant your GP referred you to and are doing the usual and putting a brave face on it.

When we Brits purchase an annuity 55% of us tick the “yes please” box to the offering from the pension company we having been saving the money with. Only 45% exercise the right to check the open market. If you think about it, the odds are stacked against your existing company having the most competitive annuity for your exact needs.

But even if you do check out the market this is the time to admit to all those health problems.

If you have smoked 10 or more cigarettes for the last 10 years or more you may get 10 – 15% more.

If you have high blood pressure or cholesterol you may get more.

And if you have more serious conditions you may get multiple rather than fractional increases to the normal rates – but no one is offering this to you on a plate, you need to speak to us and admit your circumstances, and we will refer your case to the small number of annuity companies who specialise in enhanced terms for people with medical or lifestyle “problems” the extra income you might get could amaze you – our best improvement so far has been 645 % of ordinary rates. ( he was very ill).

It will cost you nothing to ask us whether you might “qualify”. Ring us up and ask 01483 715823 or if you know that you will qualify ask for an enhanced quote.  Please do add anything that is relevant – we were for example recently supplied with a copy of a letter from the consultant to the GP which proved to be very helpful.

Quotations may take 2 -3 weeks because some of the companies involved may wish to seek a report from your GP.

Any quotation that comes at this stage will be subject to change on receipt of a full application form and the full medical underwriting that will then take place.

Just tick the box and say yes please with the rest of the 55 % who do not take advice and you will only get normal rates, there are no questions on the form about your health.

Your retirement choices

  • Annuity
  • Pension drawdown
  • Phased Retirement
  • Alternatively Secured Pension

Other options

Tax free cash – sorry you cannot have any – you can now have your pension commutation lump sum  (PCLS) – still tax free. Isn’t regulation fun wasting all that money and effort for an unnecessary name change. But yes, you can take up to 25% tax free if you want. Or for the conspiracy theorists perhaps if we are told to stop calling it tax free cash, and now call it the PCLS they are leaving it open to tax it in the future - you can tax a PCLS, but hardly a tax free lump sum!

APFA

IFA Direct is a trading name of Credenda Ltd. Credenda Ltd is an Appointed Representative of Credenda which is authorised and regulated by the Financial Conduct Authority. Financial Services Register No: 181769 http://www.fca.org.uk/register.

IFA Direct Registered Address: 20 Vicarage Road, Woking, GU22 9BH. Registered in England, No. 2047680 .

Neither IFA Direct nor its representatives can be held responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.

The Financial Conduct Authority does not regulate National Savings or some forms of mortgage, tax planning, taxation and trust advice, offshore investments or school fees planning.

The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk

The information contained within this site is subject to the UK regulatory regime and is therefore targeted primarily at consumers based in the UK.

Please read our Privacy Statement before completing any enquiry form or before sending an email to us.