DIY Annuity Service Is Risky

The Sunday Telegraph warned that DIY online ‘enhanced annuity’ services, where buyers seek the best income for life from their pension fund but do not technically get any advice, can be risky. The amount of ‘enhancement’, or extra income for life you get from your annuity, depends on the degree of ill health you suffer. But you need to be quite precise about your condition, and slight variations can make large differences to the amount of income payable. It’s easy to get it wrong thanks to the medical jargon used in many applications.

The Telegraph suggests that getting personal advice from a qualified adviser is the best way to ensure you get the best possible deal.