Open market option drawdown pension

Having built up your pension savings, when you wish to take your benefits, your existing pension provider will usually offer you a Pension Annuity, but you do not have to purchase your annuity from the company used to build up the fund. You have the right to take the Annuity from any provider you wish. This is called the "Open Market Option".

Annuities | Pension Drawdown Company

Annuity rates vary greatly between insurance companies. Whilst your existing provider may offer you an annuity income, this may well not be the best available. You can therefore exercise your Open Market Option and shop around to see what rates or arrangements other insurance companies can offer. If you have an Occupational Money Purchase Pension, the trustees of the scheme may buy your Pension Annuity for you.

We may be able to find better rates with only a few basic details from you. Complete our quick enquiry form or call our freephone number. Information is based on our current understanding of taxation legislation and regulations.

Any levels and bases of, and reliefs from taxation, are subject to change. You voluntarily choose to provide your personal details via this website. Personal information will be treated as confidential by us and held in accordance with the Data Protection Act You agree that such personal information may be used to provide you with details or services in writing or by telephone.

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