Case Study One
9th November 2011
A new client engaged our services as they were close to retirement and needed to explore the different annuity options open to them. They had approximately £200,000 invested in three pension policies, all invested in a range of balanced type funds. Our initial advice was to switch the funds to deposit, thereby protecting the value accrued to date and this helped prevent a sudden loss of value as markets dropped shortly after this time.
In establishing the health of the client, it became apparent that he may qualify for an impaired life annuity thereby enhancing the income he would receive in retirement. We contacted all the different annuity providers who offer impaired life contracts to obtain terms. As a result we were able to enhance the annuity purchased, leading to an increase in income of over 11%, which equates to an extra £1,000 every year.
