Annuity service

Retiring soon? You could get more retirement income through the Saga Annuity Service, provided by Legal & General. You will have access to:

  • A Pension Annuity, which will pay you a regular income for the rest of your life
  • Pension Annuity only accessible direct through the Saga Annuity Service, so if you're using a financial adviser don't forget to contact us directly to see if we can secure a higher income for you
  • A dedicated and experienced team provided by Legal & General who can help you through the process of buying a pension annuity
  • The Saga Annuity Service will automatically ask you some health questions when you enquire to see if they can get you even more income in retirement.

 

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Annuity Service

The decisions you make now about your retirement income could affect you for the rest of your life, so it makes sense to spend some time looking into your options and shopping around for the right pension annuity for you.

The Open Market Option

Many people who have been saving into a pension fund through an insurance company, will arrange an annuity through the same insurance company that has been providing the pension scheme. However, that insurance company may not currently offer the best annuity rates, or it may not have the options most suited to your requirements.

Therefore it is important to shop around to find the best rates for your circumstances. This is known as the ‘Open Market Option’. You can use the Saga Annuity Service Income Calculator to see how our rates currently compare to those offered by your current insurance provider. Please remember that this is only an indication of the rate you could receive. If you would like a personalised quote please call the Saga Annuity Service on 0800 046 2872. Lines are open 9am-5pm Monday to Friday. Calls may be monitored and recorded for security and training purposes. Call charges will vary.

What does it mean?

It means that you can choose the best annuity provider for you. It is extremely important to realise that once your annuity is in payment, you cannot subsequently change your mind and move to another annuity provider. This is why it is vital to make the right choice as to which provider to use and which type of annuity to purchase as it is a ‘once only’ decision.

The Saga Annuity Service is provided by Legal & General Assurance Society Limited. Saga Personal Finance is a registered trading name of Acromas Financial Services Limited, which is registered in England and Wales (Company No. 3023493). Registered office: Enbrook Park, Sandgate, Folkestone, Kent CT20 3SE. Legal & General Assurance Society Limited and Acromas Financial Services Limited are authorised and regulated by the Financial Services Authority.