If you read the press you would be forgiven for thinking that annuities have had their day, its not true, there is still a place for them in financial planning. Please see below the recent case we dealt with.
Mr X was a single male aged 65 with no dependents and wanted guaranteed income, he had 5 little pension pots totalling £91,231.49 from which he wanted the Tax Free Cash of £27,789.53.
He had managed to increased his annuity by 38.89%p.a. for the rest of his life
We secured and increase of 51.46%p.a. for the rest of his life above what he had originally been offered & 10% more than he had found.
He was more than happy that his accountant had asked Petrie & Petrie to look into things for him