Some pensioners are finding the world of annuities understandably confusing and with recent news of the fluctuating rates; many are seeking advice as to what the best option is in their particular circumstance.
There has been a lot of conjecture surrounding the issue of annuity rates and whether or not it is a good idea to delay annuity purchases. For an in depth analysis of the situation, it is always best to visit a well-known site such as mypensionexpert .
In short though, the subject has been thrown into question because of the ever falling rate of annuity pay-outs. This is due to insurers receiving less return on their investment on government debt.
With this, it seems tempting to defer your annuity payments for a couple of years in the hope that you will receive a higher rate in the long run but studies have shown that this may not be the best course of action for everyone.
With the low annuity rates being a seemingly short term scenario, deferring those years could really cut a chunk out of your pension and remember whatever pension you do not claim, after death, goes straight into the pocket of the insurer.
The best thing to do, as in all cases of life insuring is to shop around for the best rate and make the most of your retirement. It also seems entirely advisable to simply retire at the age you had always planned, the only way you could recover on those two or three years you have deferred is if you live for another thirty or forty years after the age of retirement.