Buying an Annuity, Step by Step

If an Annuity feels like the right option for you, make sure you follow the below process to ensure you maximise the value you can get from an Annuity.

1

Find Out What You Already Have

At Pense, we understand that keeping track of your pension funds and benefits can be a challenge. If you are unsure of what your pension savings are, our team of experts can still provide some indicative quotes and contact your pension provider at a later date to understand your exact pension details. 


2

Consider Your Options

Choosing the right annuity is a crucial part of planning for your retirement. That's why we encourage all our customers to take the time to consider their options and think about what they would like from their annuity.

When considering your options, it's important to think about things like tax-free cash, income options, and death benefits. These options can have a significant impact on your income and the financial security of your retirement.

To help you make an informed decision, we've created a range of tools and resources that can help you understand the impact of different options on your annuity income. For example, you can see how certain options like single/joint annuity, guaranteed period, escalation rate, and how the annuity is paid can affect your income.


3

Get Quotes

We quote from every provider in the market

We will provide you with the highest possible quote for your annuity, as we quote and compare every provider in the market, so you can be sure you're getting the best possible deal for your retirement savings.

Through our vast experience in the annuity market, we've developed a deep understanding of what it takes to get the best possible quotes. We use our expertise and industry connections to ensure that you receive the highest possible quote from every company in the annuity market place.

To make sure that our quotes are accurate and up to date, our website links live to the annuity providers. This means you can get the latest quotes with ease, without having to worry about inaccuracies or outdated information.


4

Seek Guidance

Purchasing the right annuity is a once-in-a-lifetime decision. That's why we recommend seek guidance from our team of experts to help you make the best possible decision for your retirement savings.

Our team of experts will help you navigate the complex world of annuities and provide you with personalised advice tailored to your unique needs and circumstances. We'll work with you to help you decide which options are the best for you and when you're happy to proceed, we'll make the process as easy as possible.

We'll assign you a personal administrator who will be your point of contact throughout the entire process, so you won't feel like just another number. We'll complete all the paperwork for you and even contact your existing pension companies to ensure the transition to your new provider is as smooth as possible.

Begin your step by step journey now

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Pense Ltd, 1 Derwent House, Richmond Business Park, Sidings Court, Lakeside, Doncaster DN4 5NL.
Pense Ltd is authorised and regulated by the Financial Conduct Authority number 231629. Find us on the FCA Website here