Thank you Clubman, I should have spotted those,forgive me, I'm a newbie hereAs a 70 year old couple with one moderate annuity pension from work, one state pension( OAP) and one private ARF pension,we're wondering about converting the Irish Life ARF to an annuity. It's about €250k, reducing each year via withdrawal of 4%. We have no expertise in managing the ARF, but fear there will be very little or nothing left in later years, and at least there would be some guaranteed income with an annuity. Is it a good or bad time in current financial climate to look at buying an annuity?
Or have rates just adjusted upwards in line with greater expected inflation?I think it’s fair to say that annuities represent a far better proposition today than they did a few years ago, particularly given your age.
Just to be clear, I only linked to the post with the Irish Life annuity calculator because I believe that it's the only public one available and it was provided, as I stated, for rough indicative purposes. It wasn't an endorsement of Irish Life just in case anybody thought that it was.We did a quote yesterday for a client and Irish life were 0.268% less than the leading provider in the market.
€268pa more for life for every 100k of pension from shopping around
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