QUESTION:
What if my pension provider is one of the worst annuity providers?



ANSWER:
The good news is that this won’t matter. You are free to shop around with any other provider when you cash in your pension – the process is known as taking the ‘Open Market Option’ and everyone should do it. Scores of independent advisers offer shop around services to help people get the right deals on their annuities. The trade body IFA Promotion which represents independent advisers is a good place to start if you want a local expert – look at www.unbiased.co.uk for more information. Other big firms offering no obligation quotes from dozens of different annuity providers include Hargreaves Lansdown on www.h-l.co.uk, Alexander Forbes at www.annuity-bureau.co.uk or Annuity Direct at < title="www.annuitydirect.co.uk" href="http://www.annuitydirect.co.uk" target="_blank">www.annuitydirect.co.uk.