With one of the key annuity providers reducing annuity rates again this week, it is key to shop around not only for the best standard annuity rate but also for non-standard annuities.  The enhanced annuity rate market for smokers and those with medical conditions has developed enormouusly over the last year and it is now possible to complete a single medical questionairre that can then be sent to all the annuity providers.

The key alternative to annuitisation, Income Drawdown, also received a boost earlier this year with the maximum allowable income now set at 120% of GAD.  The 15 year gilt yield that is used to set the GAD rate has also increased from around 2.0% at the start of 2013 to its current level of 3.25%.

In summary, shop around and start your reserach early to ensure you consider all your alternatives and select the best option that meets yor circumstances.