Pension review – consider all of your income options at retirement – what is your priority?

The client in this case had decided to retire and asked us for guidance on the options available. He was single with no financial dependents and had a history of medical problems.

The client’s objective was to achieve the maximum income with his pension fund whilst not taking any investment risk.

We discussed the effects inflation would have on his income in retirement. However, due to his health, his outgoings and other assets, his priority was to take the maximum income now.

We researched the whole market place, as independent financial advisers, to obtain the highest level of income. The good news over the last few years is that annuity providers now take into account a person’s medical conditions and lifestyle. Our client qualified for an impaired life annuity.

The outcome was that we were able to meet our client’s objectives by securing him a guaranteed income which was in excess of what his existing provider and standard annuity providers had offered.

The above case study is for information and illustration only. It is not intended to be individual advice and it should not be taken as such. If you have any questions relating to your own circumstances, please contact us.