Update on Annuities

The FCA is going to force annuity providers to tell customers how much they can gain from shopping around.

Providers will need to give customers personalised information on their options, and they will need to show how much the highest quote available on the open market differs from their own.

This is a welcome step forward, as the FCA said that its research had shown 60 per cent of annuity customers failed to switch providers, and they estimated 80% could have got a better deal. This backs up our own experience.

We would suggest that it is as important to make sure the annuity is set up in the correct way.

For example, do you include…….a dependent’s benefit and if so at what rate, a guarantee period and if so for how long, value protection, escalation, have it paid monthly or annually, in arrears or advance, should you buy an invested annuity, a variable annuity, a fixed term annuity, a hybrid product (you get the point).

Also it is important to check whether you might qualify for an enhanced rate, as this can give a big increase in rates.

We feel it is important to get advice, to make sure you set up the right annuity and get the best rate, as normally once you have bought an annuity you normally cannot alter it.

This is an area we specialise in. We can advise on the full range of options, including looking at alternatives too, so an informed decision can be made. We automatically search the market for the best rate, rather than being told to do so, as we work for you.

We can help. Call us 01543 440300

One in three families in England could not pay their rent or mortgage for more than a month if they lost their job, a study for the charity Shelter suggests


Planning for this kind of event can often be a forgotten activity. Call or email us to look at protection costs, you’ll be surprised at how affordable peace of mind is.

01543 440300                           enquiries@acuityfinancial.co.uk

Have you checked your pensions or savings recently?

With so much going on, it’s easy to simply file those pension and investment statements without a second glance, as surely the provider will be making sure that your nest egg is performing as effectively as possible.

Well, think again. In many circumstances, unless you make a conscious effort to review performance and change your investment strategy, then nothing at all will happen to ensure that your investments strategy is working in the way it was designed.

Why not call or email us for a no-obligation appointment on 01543 440300 or enquiries@acuityfinancial.co.uk


The cost of raising a child

In their 13th Annual Report on the yearly cost of a child LV Report that the headline cost of raising a child to 21 is now £231,843 making it more expensive than the average house.

Also included in the report is the cost of childcare and babysitting, which now accounts for a staggering 30% of the total cost.

Whilst none of us likes to dwell on our mortality, perhaps its time to look at the level of life cover that you have in place.

Call us on 01543 440300 or email us on enquiries@acuityfinancial.co.uk to talk about your needs.

Read more here


Deadline to the Breadline

Legal and General’s Deadline to the Breadline report shows that on average people could be on the breadline in just 29 days, if they suffered a critical illness, injury or the death of the main breadwinner. This reduces to just 14 days for working age families (18-64 years old).

Read more here

Acuity can help by finding the best cover for you.

Call us on 01543 440300 or email us @ enquiries@acuityfinancial.com


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