Consumer Prompt – We can’t all be Susan’s
It’s the end of February, it’s pouring down, well it is the UK; you’ve been meaning to buy that special something for Susan for some weeks now. They always put the effort in, get that original something you’ve not seen before, which inevitably is perfect for you. You really want to put the effort in this year, they deserve it. But its pouring and you have a 1,001 other thing’s 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 grand children 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 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 1 at 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 encourage them to shop around for the best rate. From March 1st 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 can offer you the best rates too. We also want to be a consumer champion making you aware of these new legislation’s 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.
For more information about Consumer Prompt or if you would like a no obligation chat with one of our retirement experts please call us Free on 0800 689 9335.