Why comparing annuities can give you more money in retirement

Eight out of ten people don’t shop around for the best deal on their pension when they retire, yet everyone in this position is entitled to do so by exercising their open market option.

Although legislation introduced in 2003 obliges UK Insurers and Employer Pension Schemes to tell prospective retirees about this option, there is little evidence yet that many people are taking up their open market option.

Read the rest of this entry »