Your right to search the marketplace for the best possible pension.
The ability to move the value of your pension fund at retirement to another insurance company or pension provider - This is usually down because a better annuity is available elsewhere.
The option to apply the proceeds of an insurance contract to buy an annuity at a current market rate from the same or another insurance company.
An option under pension schemes to use the cash in the pension fund to find the best annuity rate available from other companies in the market. There may be a charge for taking the money or perhaps enhancement if staying.
The ability to shop around and buy an annuity from a different insurance company to the one that built up your pension.
This is the option to use the money from an insurance contract to buy an annuity from any insurance company at whatever annuity rate they offer. It could apply to a member's share of a pension fund , meaning they can shop around for the best deal.
An option which exists at retirement date to use the accumulated value in a pension fund as a cash amount to purchase an Annuity on the Open Market from another Insurance Company. This practice can allow an individual to secure a better Annuity Rate than may be available from the Insurance Company which has maintained the pension fund.
An option to move the value of your pension fund at retirement to an insurance company to purchase a pension income known as an Annuity. Normally used to gain a higher annuity rate.
An option to move the value of your pension fund to another company or pension provider so that they can provide an annuity.
