Enhanced annuity – David and Susan


David and Susan were aged 67 and 66 and had been retired for four months. Their pensions were covering their basic living costs, and they had around £30,000 in savings. They were looking to boost their income.

David had an additional pension fund through his previous employer which was worth £70,000. The annuity rates they were being offered were poor and offered little protection for Susan. The couple were also worried about dying before they had had their money back; their children would therefore not be able to benefit from the money.

What did we do?

David and Susan decided they wanted to withdraw the fund and put it in the bank to allow themselves the odd treat. This would also enable them to keep some of the money safe for their children to benefit from in the future.

After discussion, it emerged they were both suffering with health problems and that, above all, they were looking for certainty. We found enhanced annuity rates for them, greater than those being offered by their current provider, whilst also securing guarantees (100% spouse and 100% value protection).

The results

David and Susan now have the security of a guaranteed income for life, as well as a guarantee that they will get at least the value of their fund back.

Susan is now protected and, should anything happen to them both before they had had the value of the fund paid out to them, their children will benefit. David and Susan now have the peace of mind they were looking for.

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