19:01, Sun 5th February 2012
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Escalating Benefit
It is important to bear in mind that inflation reduces the buying power of your money over time. What may appear to be an attractive income now may not be so as the years go by and prices go up.
You can mitigate this by selecting an escalating annuity that will increase the amount paid each year by a percentage that you select, either a fixed rate or linked to a set benchmark such as the Retail Prices Index.
Again selecting this option will reduce the amount payable compared to a non escalating annuity.
If you have an old or frozen pension plan then you should have it reviewed by the qualified experts.
You may be able to:
- Increase the value of your pension
- Unlock your pension
- Consolidate your plans
- Save £thousands in pension charges
- Access better performing funds
- Release tax free cash from your plan
- Receive an immediate income
