It’s the end of February, it’s pouring down (well, it is the UK) and you’ve been meaning to buy that special something for Susan for some weeks now. She always puts the effort in and gets that original something you’ve not seen before, which inevitably is perfect for you. You really want to put more effort in this year – and they deserve it. But it’s raining and you have a thousand other things to do.
You buy Susan a personalised tea towel…. online.
Thing is, when you are working you inevitably don’t have the time to ‘shop around’. Things get away from all of us. It’s not an excuse – it’s a reality.
How does Susan do it then?
Susan is perhaps an exception – yes she is about to retire but is still working part-time and is flying through an Open University degree and looks after her young grandchildren 3 days a week.
Have you ever considered that she frees her time up for the important things by getting other people to do the more mundane things in life, which really are important too, but, like buying a gift on a rainy day, are easy to put off?
Maybe Susan considered her pension options early and got someone else to shop around for her?
She listed her options:
Do it myself (but the government says I should get advice as I don’t understand the risks involved).
Speak to my local IFA (but is he a specialist?).
Contact a leading pension provider company (but can they be trusted?).
Stick with my existing pension provider (that feels hassle-free, I guess it’s to my benefit?).
Or I could get an intermediary to shop around for me (I wonder who the UK’s number one retirement intermediary is….oh, My Pension Expert).
Ok, ok. That little scenario was loaded, wasn’t it? We are forcing you down a path to speak to us. Naughty us.
But are we?
In November 2015 the FCA announced the Consumer Prompt legislation to ensure customers have a better understanding of their pension options and to encourage them to shop around for the best rate.
From 1 March 2018, all pension companies have to provide you with written evidence if your lifetime annuity is the best on the market. Furthermore, they need to make it clear how much better off you could be if you chose that leading rate compared to their own.
So why My Pension Expert?
Well yes, we are the UK’s number one, but we also have access to the whole of the market and, importantly, through our unique bidding system we can offer you the best rates too. We also want to be a consumer champion, making you aware of this new legislation before the event has happened – so you don’t miss out. And yes, Susan did speak to us. Take a look at our Trust Pilot reviews… she soon crops up.
Super Susan, I don’t know how you do it, ALL of it. Put that on her tea towel.
If you would like more information about Consumer Prompt or a no obligation chat with one of our retirement experts, please call us free on 0800 689 9335.