Q&A

Answer a question


31 May 2010

Rules on 'any spouse' quotes from annuity providers after transfer from final salary scheme?

I'm transferring out from my final salary scheme to attract impaired life annuity rates which are more than double. I have, however, run in to one snag. The rules of my old scheme enforce the annuity provider to quote on an 'any spouse' basis. Being a male and always single, this puts me at a big disadvantage. Instead of the rates being nearly 10%, with the any spouse set-up, the rate subsides to just over 8% - a huge difference. Is there anything I can do to prevent being penalised in this way? Men die sooner than women - fact. Mortality rates reflect this. Would the Human Rights Act apply in this case? Any thoughts would be much appreciated.

  • REPORT This comment has been reported.

2 Answers

Answers

Be the first to answer

Do you want to answer this question? You need to be signed in for this feature

Answer a question

Be the first to ask a question

  • {{ question.title }}

    {{ question.authorName }} On

    {{ question.answerCount }} Answers

Copyright © lovemoney.com All rights reserved.

 

loveMONEY.com is a company registered in England & Wales (Company Number: 7406028) with its registered address at First Floor Ridgeland House, 15 Carfax, Horsham, West Sussex, RH12 1DY, United Kingdom.


Our company maintains relationships with various affiliates and lenders, which we may promote within our editorial content in emails and on featured partner pages through affiliate links. Please note, that we may receive commission payments from some of the product and service providers featured on our website. In line with Consumer Duty regulations, we assess our partners to ensure they offer fair value, are transparent, and cater to the needs of all customers, including vulnerable groups. We continuously review our practices to ensure compliance with these standards.


While we make every effort to ensure the accuracy and currency of our editorial content, users should independently verify information with their chosen product or service provider. This can be done by reviewing the product landing page information and the terms and conditions associated with the product. If you are uncertain whether a product is suitable, we strongly recommend seeking advice from a regulated independent financial advisor before applying for the products.