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Why shop around for my retirement income?

It certainly pays to shop around for your retirement income.

Whilst the company that you have saved with for all those years may have done a great job in investing your contributions, they may not necesarily provide the highest levels of income in your retirement.

I was contacted recently by a, soon to be, 65 year old gentleman who had received his retirement pack from his Pension provider, in which they quoted him an annual income for life. The pack, as they all do, highlighted that he had the right to shop around through something called an "Open Market Option"and that he should seek independant financial advice if he felt that he needed help. So, he did exactly that.

This proved to be a very wise and rewarding decision. We were able to go to many providers and, from those, obtain an income, on a like for like basis, 31% higher than he had already been quoted.

In addition, the higher income included for advice fees, so it really did feel like a "something for nothing" scenario.

Whilst we cannot guarantee obtaining a higher income, it really does pay to shop around and there is no cost in finding out one way or another.

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He has given us sound advice and is happy to accommodate my husband and I's desire to invest ethically. He is a pleasure to deal with..Dr Alison Payne, Coventry

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Ethical investment is known by a variety of terms including: • ‘green investment’ • socially responsible investment (SRI) and • sustainable finance. All of these terms refer to financial or investment services which strive to maximise investment performance and social welfare. ...

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CONTACT US

1160 Elliott Court, Herald Avenue, Coventry Business Park, Coventry CV5 6UB

Telephone: 07772 195329

Office: 024 76011704

Email: peter@pmcfs.com

PMC Financial Planning is a trading style of PMC Financial Services Limited - 1160 Elliott Court, Herald Avenue, Coventry Business Park, Coventry, CV5 6UB. PMC Financial Services Limited is authorised and regulated by the Financial Conduct Authority

PMC Financial Services Limited is registered in England and Wales, Number 7718606. Registered Office: 1160 Elliott Court, Herald Avenue, Coventry Business Park, Coventry, CV5 6UB.