Enable Independent, Independent Financial Advisers in Bishop’s Stortford were pleased to see that more clarity will be brought into accessing annuities, as news this week revealed that The Annuity Exchange, software specialists, will be creating an on-line annuity directory of brokers.
Annuity software specialist The Annuity Exchange has been selected to build and run an online directory of UK retirement income brokers. It is hoped that this portal will make it easier for people wanting to shop around for an annuity adviser or non-advised broking service.
The website will enable people to search based on the size of their fund, and will ensure clarity between whether an adviser is independent or restricted, they will also be able to see the amount of charges they will have to pay and the location.
The new service will be provided free of charge and the Members of the Pension Income Choice Association will be paying to develop this new service.
Hargreaves Lansdown head of pensions research and Pica chairman Tom McPhail says: “In Pica’s manifesto we committed to introduce a new, specialist directory for those people looking to find an intermediary to help them secure a great annuity deal.
“The appointment of The Annuity Exchange follows a comprehensive tender process and now means we are able to move towards launching the directory to investors in the near future.”
The Annuity Exchange chairman Stuart Bayliss stated: “The new intermediary directory will provide a powerful service for people who do not have an existing intermediary.
“Choosing an annuity is a once in a lifetime decision and getting it wrong can cost people thousands of pounds over their retirement. The directory unlocks access to professionals that can help to demystify what can for many be a complex area.”
If you are looking into investing into an annuity, or just simply worried about not having any pension funds in place for your future, then why not contact one of our Independent advisors, at Enable Independent, Bishop’s Stortford, we make sure we give you advice from across the market, finding a policy which suits your individual needs.
The individual and group pensions market is an ever changing world, with new legislation being brought out on a regular basis, it is difficult to keep track of what options are available with regard to your retirement planning. Hopefully within this section of our website we can explain many of these options in plain simple language and help you plan for your future. This information is purely intended as guidance and therefore if you require any specific advice please contact us directly for independent financial advice.
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