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Annuity providers

If you are looking to purchase an annuity when you retire, you may wish to take the Open Market Option ("OMO"). The OMO gives you the right to transfer your Personal Account to an annuity provider of your choice in order to secure the best terms available in the market. It is important to shop around as the amount of regular income you might be able to purchase could differ significantly between each provider based on your individual circumstances.

Details of several annuity brokers are listed below. Please note that these annuity brokers are listed as examples of annuity broking services on offer, and are not recommendations by the Trustee although these are all annuity brokers which the Trustee’s DC Section investment consultant has said it regards as reputable. There are other annuity brokers in the market which you could choose to use. You should be aware that brokers usually charge a fee or commission for their services and these may vary from broker to broker.

The Trustee is not able to provide financial advice and would recommend that you seek independent financial advice. lf you do not have a financial adviser, details of those near to you can be found at register.fca.org.uk.

Hargreaves Lansdown

A summary of the services offered are listed below:

  • Annuity broking - Commission or fixed fees may apply
  • Flexi-access drawdown - Platform and fund charges may apply
  • Guidance and advice - Fixed fees may apply

For more details about these services please visit the Hargreaves Lansdown website by clicking here: http://www.hl.co.uk/

Hub Financial Solutions (formerly The Open Market Annuity Service (TOMAS))

A summary of the services offered are listed below:

  • Annuity broking - Fixed fees may apply
  • Flexi-access drawdown - Platform and fund charges may apply
  • Guidance and advice - Fixed fees may apply

For more details about these services please visit the Hub Financial Solutions website by clicking here: https://www.hubfinancialsolutions.co.uk/

LV= (Liverpool Victoria)

A summary of the services offered are listed below:

  • Annuity broking - Commission and/or fulfilment costs may apply
  • Flexi-access drawdown - Fixed fees apply
  • Guidance and advice - Initial consultation free. Further fees may apply if recommendation goes ahead

For more details about these services please visit the LV= website by clicking here: https://www.lv.com/

Origen Financial Services

A summary of the services offered are listed below:

  • Annuity broking - Fixed fees may apply
  • Flexi-access drawdown - Fixed fees and fund charges may apply
  • Guidance and advice - Fee may apply

For more details about these services please visit the Origen Financial Services website by clicking here: https://www.origenfs.co.uk/