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While there is little you can do to increase your retirement pot once you have stopped working, there is much you can do to make your savings last.
Living Annuities are good, they
- Allow you to take charge of your retirement savings
- Provide the flexibility to set your annual income
- Control your investment strategy
- Retain your capital for your estate
10X Living Annuities are better because we offer
- Low fees. Our fees are always less than 1% excl. VAT
- Superior long-term growth through Index Tracking
- A highly diversified portfolio
- A team of retirement experts to help you along the journey
Living Annuity benefits and risks
In exchange for the flexibility and performance benefits a Living Annuity provides, you assume the risk of securing an adequate, sustainable income. The income you choose to draw from your Living Annuity may be too high, causing your capital to reduce over time. This means that your future income could fail to keep pace with inflation or even that you outlie your savings
Your investment value and returns are also not guaranteed and may move up or down. If markets fall or returns are poor, then your capital could reduce or fail to keep pace with inflation.
What transfers can a Living Annuity accept or make?
A Living Annuity may only accept transfers from another Living Annuity or from a retirement fund. It may not accept voluntary contributions. It is not possible to transfer a Guaranteed Annuity into a Living Annuity. You may transfer your Living Annuity to another provider.
Living Annuity fees
Remember that the total deductions coming from your investment are the income you draw and the fees you are paying. You want to keep your fees as low as possible, so that more of your money goes to you, and less to your provider. At 10X we charge less than half the average industry fees, and never more than 1% per annum excl. VAT.
So finally retirement is here, now what?
As you near retirement, two questions will occupy your thoughts: "How do I manage my time?" and "How do I manage my finances?" For a successful retirement, you need to apply your mind to both issues.
To find out more about the 10X Living Annuity, click here.
You can also apply directly online here.