Shop Around for Retirement Income Suggests Legal & General

    SURREY, ENGLAND, December 02, 2011 /24-7PressRelease/ -- Thanks to the availability of broadband and mobile Internet devices, shopping around has never been so quick and easy. Whether at home or on the go, we can search the web for the best deal on that gadget or those shoes, and financial products are no different.

We wouldn't think twice about comparing prices on big purchases such as televisions or cars, but pension annuities? Well actually more and more annuity customers are now shopping around for the best annuity rates to maximise the income from their pension savings.

When the time comes, customers can use their pension fund savings to buy their annuity from any provider; it doesn't have to be their pension provider. And as Tim Gosden, Head of Annuity Product Development for Legal & General explains, shopping around for an annuity could increase their income significantly.

"Unfortunately, annuity customers can't afford to assume that their pension provider offers competitive annuity rates; many don't. The difference between incomes offered by the competitive annuity providers can be as much as 10% and compared to your pension provider, it could be even more.

Then there's the customer's health. If certain health risks apply (like smoking or being overweight) they could qualify for extra income. And if they have developed more serious medical conditions they could be offered up to 40% extra income by enhanced annuity providers like Legal & General.

Anyone can get quick estimates of the incomes offered by different annuity providers by visiting the Money Advice Service's independent comparison tables. They can then get their guaranteed annuity quotes from the more competitive providers."

For more information on Legal & General's annuities please visit http://www.legalandgeneral.com/annuities or call 0800 048 1603 for a quote. We may record and monitor calls. Call charges will vary.

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