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This month’s annuity news plus TWO special offers

This month we have been talking about two special offers available with Retirement Line (but hurry, they both end on 31st December 2016!), rising annuity rates, and the government withdrawing plans for a secondary annuity market.

A special offer for your clients

One of the benefits of choosing to partner with Retirement Line is that your business gains access to some of the best rates on the market, potentially boosting the retirement income of your clients by thousands of pounds. 

As the UK’s largest broker specialising in annuities alone (by turnover), leading providers regularly offer Retirement Line preferential annuity rates for our clients and introducers.

Our special higher rate offer with annuity provider Just Retirement applies to any clients with a qualifying medical condition or lifestyle issue, and is not available by going direct to the provider.

Offer example:

A 65-year-old smoker with a £100,000 pension fund could secure £5,729.40 a year for life with this special offer from Just Retirement. 

In comparison, if he bought his annuity without shopping around, the lowest standard conventional rate from a leading annuity provider is £4,051.20.

His income from the special rate from Just Retirement over 20 years would equate to £114,588 – a staggering £33,564 more income than the comparative standard quote.

Remember! This offer is only available to clients whose application is received by Just Retirement by 31st December 2016, where the quote is in date and the funds are transferred within the guarantee period.

If you have clients planning to retire in the next few months, you may wish to consider referring them to us for a free quotation sooner rather than later.

Special 50/50 commission offer for introducers

It isn’t just clients who benefit from a current referral to Retirement Line – we are also running another offer which could significantly boost the introducer fee we pay to you as a share of our commission earnings.

Last month we decided to extend our 50/50 commission offer until the 31 st December 2016, which means you now have more time to benefit from our increased introducer fees.

For annuity referrals received before the end of this year, we have increased our introducer fees to a 50/50 split of our commission whenever it exceeds our standard introducer fee*

It means a simple referral of a fund size of £100,000 could see you earning £1500 in commission on completion – and we will do all the hard work for you!

How much could I earn?

The table below shows examples of the introducer fees for referrals received during our offer period, assuming our commission rate is 3% (including enhanced plus our chosen investment linked and fixed term annuity providers). The underlined amounts would apply:

Fund Size £50,000 £100,000  £150,000 £200,000 
Standard introducer fee £360 £1,260  £2,160 £3,960 
Special offer fee £750 £1,500  £2,250 £3,000 

*Maximum of three cases where the fund value is below £30,000, thereafter standard terms apply. Our standard terms are: Retirement Line retain 100% of the commission paid on the first £30,000 of the annuity purchase fund, and you receive 60% of the commission as an introducer fee on the balance of the annuity purchase fund.

Boost to industry rates

There is more good news for IFAs with clients nearing retirement who will be relying on the certainty of a guaranteed income. Rates have reportedly gone up seven times since 21 st September 2016.

In July 2016, FT Adviser reported that annuity rates had fallen by 3.6 per cent since the UK voted to leave the European Union. Since September, rates have risen again by 3.4 per cent.

This rise in annuity rates, coupled with the special offer secured by Retirement Line, means many annuity customers can enjoy far better rates than they would have done over the last few months.

Refer your clients today

With rates improving and our TWO special offers available until 31st December 2016, now could be the ideal time to refer your clients seeking an annuity and who are due to retire in the next few months.

By referring your annuity clients to Retirement Line, they will benefit from our first-class service, receiving specialist guidance and information on their retirement income options, together with access to preferential rates from the UK’s leading providers.

Call us now on 0800 1444 777 or refer your clients online here

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