Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Experts are warning pension holder to check out the terms of their policy

By John Harry Subscribe to RSS | March 14th 2012 | Views:
loading
 
  



Through a legal entitlement hidden in their policy's small print, Private sector pension holders could double their annual payouts. Pension holders have been advised by various experts to re-examine the terms of their original policy documents before agreeing rates for their annuity. Heavy fall in interest rates and soaring life expectancy have forced pension providers to slash annual payouts to around 5.9 per cent of a total pension pot. However according to research guaranteed Annuity Rates given with policies issued before 1988 hovered between 10 and 12 per cent?

It indicates that someone with a guaranteed return set in the Eighties could get an annual income of £11,000 from a £100,000 pension pot which is quite a good amount to get. According to the reports of The Daily Telegraph the overwhelming majority of personal pension plans sold before July 1 1988 included guaranteed annuity rates (GARs), which can be 100 per cent higher than current market annuity rates that have fallen to record lows.

Such rates determine your level of income in retirement. Phoenix has half a million of these policyholders, including savers with Pearl pension plans. Aviva has 80,000 via its old Provident Mutual, Norwich Union, Commercial Union and General Accident brands. Scottish Widows has 70,000, Scottish Life 47,000 and the Pru 60,000. The huge numbers of customers are completely in the dark over these guarantees, largely because companies do not tell them that they exist. Which is really not good on their part as companies are trying to reap more profit and give less? Are you in need of funds then simply apply with instant personal loans @ http://www.instantcashpersonalloans.co.uk/ and get the cash in hassle free manner with easy repayment options.

As per the director general of Saga the pension providers are unlikely to voluntarily ensure policy holders are getting the best deal. According to Annuity expert Billy Burrows of the Better Retirement Group most customers are completely unaware that they have these guarantees. Even where insurers do provide information, it is only at retirement, and is not always crystal clear. It is often clouded in confusing language, which makes it difficult for customers to understand. Before 1988 when personal pensions were not launched those who wanted to save for retirement in a private pension, because they did not have access to a company scheme, took out a “retirement annuity contract”, also known as a Section 226 policy. Now most of these contracts included a guaranteed annuity rate.

John Harry - About Author:
John Harry is expert finance advisor in online marketing finance. He writes for instant personal loans , instant payday loans and instant decision loans

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/loans-articles/experts-are-warning-pension-holder-to-check-out-the-terms-of-their-policy.htm

Related Loans Articles Subscribe to RSS

Fulfilling the demands of the all type of creditors internet finance is best
Published by Jack Grayn on December 10th 2011 | Loans
There are several financial aids which helps the worst creditor by providing them monitory aid and a...
 
No faxing cash advance- Easy short term finance without any hassle
Published by Luis Burrese on March 15th 2012 | Loans
Popularity of internet has led to the removal of faxing method to apply for loans. No faxing cash ad...
 
Doorstep Loans- Quick finance to fulfill your urgent needs
Published by Johntygolf on November 26th 2011 | Loans
Doorstep loans are considered to be the best option to overcome your financial crisis in the least p...
 
Personal finance can be fun - Saving money in this tight economy
Published by Sandra Parker on January 23rd 2012 | Finance
In a tight economy it can become hard for you to save money. But, in actuality if you give importanc...
 
12 MONTH LOANS FOR BAD CREDIT - Abrupt finance for unhealthy creditors without any restriction!!!
Published by Thom Lee on March 14th 2012 | Loans
12 month loans for bad credit may be a short term cash resolution against that you'll be able to get...
 
Millions applying for pay-day finance in Britain
Published by David Hurley on January 21st 2012 | Loans
Millions of people take up a pay-day every year but it is in their own hands to make it beneficial o...
 
Getting your business the finance it needs
Published by Mathias Scott on March 7th 2012 | Loans
Numerous businesses are having a tough time receiving funding. The recent recession was no help eith...
 
Apply for finance and meet your financial problems with ease
Published by King Loothar on December 15th 2011 | Loans
When people are in financial crunch then only way out for them is borrow funds from financer. And re...
 
Text loans - Get hassle free finance by sending a message via your cell
Published by Jack Cook on March 15th 2012 | Loans
Suffering from credit crunch, don’t bother just send a message to the cash providers and avail qui...
 
Tips on loans and finance investment
Published by Pramod Kumar Singh on May 23rd 2012 | Loans
There are different kinds of loans and different investment options. To know about each one you can ...
 
Credit-ratings are becoming the biggest hurdles in getting finance
Published by Kevin Cook on December 27th 2011 | Loans
The main hurdle in securing a loan today is a borrower’s credit-ratings which may be high or low w...
 
Sought your all financial problem with internet finance
Published by Stevemartin on December 10th 2011 | Loans
Finance through internet is the superb way out of your financial problems as it provides online fund...
 
Insurance policy Makes a very good Guarantee
Published by Leila on May 9th 2012 | Finance

People today around the globe travel all of the time. They use various vehicles which include ve...
 
Choosing an insurance policy for Hawaii
Published by Auto Insurances on January 16th 2012 | Finance
Just like in other states in the United States, it is a mandatory for the residents in the state of ...
 
Get easy finance for your new business venture
Published by Macrobusinesscapital@gmail.com on January 21st 2012 | Finance
Do you want to start your own business, which requires funds but don't have idea on how to arrange t...
 
Secured loans against logbook: smart way of obtaining finance!
Published by Scarlette Riley on February 8th 2012 | Loans
Secured loans against logbook are mainly designed for borrowers, having a vehicle’s logbook on the...
 
Meet all small tasks with ease with short period online finance
Published by Sandra Jeux on March 1st 2012 | Finance
Now don’t bother about urgent cash you need at the time of emergency, apply online with easy short...
 
Avail finance online and help yourself to overcome the economic disaster
Published by John Martin on December 16th 2011 | Loans
Apply for finance online and save your precious time and get funds in hassle free manner at the comf...
 
Get Lo Doc car finance fast approval
Published by Julia Bennet on June 15th 2012 | Loans
When someone applies for a car loan what they want is the best rate of interest and fast approval. T...
 
Financial aids for people having negative finance ratings
Published by Jack Grayn on December 14th 2011 | Loans
People who have done mistakes in past relating to the finance and are unable to get funds can now ap...