P674 Teletext 674 Oct 4 21:51:04    FOR  MONEY  ——————————————————————————————————————— ANNUITIES    "Choosing an annuity is a   tricky, once-in-a-lifetime   decision," says Graham Hooper  of investment firm Chase de Vere. "The moment you buy an annuity you are saddled with the rate of interest being paid at that time for the rest of your life which could be 20 or more years. "With interest rates so low, we're advising our clients to delay annuity purchase for as long as possible." ——————————————————————————————————1/6— Superscrooge is back here on Monday HAVE YOU SEEN FAMILY FINANCE? p540 Lost Touch Finance LoveStars TV
P674 Teletext 674 Oct 4 21:53:03    FOR  MONEY  ——————————————————————————————————————— ANNUITIES    "We advise people to live   off their pension cash at   the moment and delay taking out  an annuity," says Graham Hooper.  "Interest rates could double in the next five years. That makes a lot of difference to the income you get from the annuity for the rest of your life. "Unfortunately, those on compulsory purchase schemes have to take their annuity at the time of retirement." ——————————————————————————————————2/6—— Exmoor and Lorna Doone country 672 DO NOT LET MY SHARES GO DOWN p510 Lost Touch Finance LoveStars TV
P674 Teletext 674 Oct 4 21:50:11    FOR  MONEY  ——————————————————————————————————————— ANNUITIES    There are three types of annuity  - phased retirement, drawdown  and conventional annuity.   Phased retirement allows you to cash parts of your pension and chose an annuity any time up to the age of 75. You can wait until interest rates rise before buying the annuity. You don't have to take out a sum every year, but you can take money out faster if your health starts to fail. ——————————————————————————————————3/6— Superscrooge is back here on Monday HAVE YOU SEEN FAMILY FINANCE? p540 Lost Touch Finance LoveStars TV
P674 Teletext 674 Oct 4 21:51:10    FOR  MONEY  ——————————————————————————————————————— ANNUITIES    Drawdown annuities allow you  to take your tax-free cash on  retirement, but you don't have  to take your annuity at this time. An income is provided directly by the fund and that remains invested on your behalf, but there are Government rules on how much pension can be withdrawn. Again you can delay annuity purchase until you're 75 but you must make one withdrawal from the fund each year. ——————————————————————————————————4/6— A book to help you beat the system 673 OLD SOLDIERS NEVER DIE... p676 Lost Touch Finance LoveStars TV
P674 Teletext 674 Oct 4 21:50:11    FOR  MONEY  ——————————————————————————————————————— ANNUITIES   Conventional annuities work  by exchanging your pension  fund, after deducting any tax-free cash, for a guaranteed level of income. Here you must take the tax-free sum and the pension at the same time and on retirement, but you can shop around for the best annuity rates at that time. So consider what income you need, what inflation is likely to be during your retirement and how long you'll live! ——————————————————————————————————5/6— Superscrooge is back here on Monday HAVE YOU SEEN FAMILY FINANCE? p540 Lost Touch Finance LoveStars TV
P674 Teletext 674 Oct 4 21:51:11    FOR  MONEY  ——————————————————————————————————————— ANNUITIES To help you make the right choice with your annuity, consultancy firm Johnstone Douglas has published a new, free independent guide: 0800 557 768. Independent Financial Adviser Promotion is preparing a list of specialists that should be out soon: 0117 971 1177. Independent investment firm Chase de Vere is contactable on: 01225 469 3711. The Annuity Bureau: 0171 620 4090. ——————————————————————————————————6/6— Exmoor and Lorna Doone country 672 DO NOT LET MY SHARES GO DOWN p510 Lost Touch Finance LoveStars TV