Resolved Question

Pension Annuity - Financial advisor?

With my partner's retirement looming and having sought options and advice from not one but two financial advisers we find ourselves at a lost about 'What Annuity' We are not married (25 years together) we want to take a 25% tax free draw down to pay off our existing mortgage. The remainder of the pension an option is to buy an annuity but as we are not married we cannot find one that will not penalise us. If my partner died I would not receive anything from his pension if he were to die before me. It seems unfair to us that we are being treated differently because we are not married.

Please only answer if you have something constructive to say. Thank you so much for any suggestions or advice you can offer..

Additional Details

Pension fund is quite substantial

4 days ago

Also it is a private pension paid into for 27 years

4 days ago

UK pension

4 days ago

I read somewhere Steve that any www. ending in .net is associated as being a bit dodgy

4 days ago

Best Answer - Chosen by Asker

I am surprised that you cannot arrange for the annuity to be shared with a partner, but obviously you have looked at this.

Try Citizens' Advice and afterwards perhaps an IFA.
http://www.citizensadvice.org.uk/

I arranged ny annuity with an on-line company and got quite a good deal.

The FSA site talks about spouse or partner so have a look.

http://www.fsa.gov.uk/tables/bespoke/Ann…

Seeking an annuity is one of the only times in your life that it is an advantage to smoke since they reckon you'll die sooner. Not suggesting you start now!

Good luck.


http://www.citizensadvice.org.uk/

I arranged ny annuity with an on-line company and got quite a good deal.

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Other Answers (2)

• I got my annuity through Hargreaves Lansdown who were very helpful -
  http://www.h-l.co.uk/pensions
• One option for unmarried partners is to purchase a life insurance policy that would provide for you in the event he dies before you.