Again, when you retire, you have flexibility and options open to you. You may need a guaranteed income, a tax-free lump sum or a mixture of the two. Is your current provider offering the best annuity rates or would you be better served by using the open-market option which allows you to shop around for the best deal?

Some individuals are entitled to a higher annuity rate, if they have suffered medical or lifestyle problems in the past.

We can look at alternative retirement options such as phased retirement and income drawdown; these offer the ultimate in flexibility and investment options.