P169 Teletext 169 Nov27 21:00:22 ——————————————————————————————— Write to our experts for help Dear (eletext I have got an annuity pension with Prudential worth £3,105.35, which gives me £7.82 per month. Would it be possible to cash it in because I don't think it's worth carrying on with it. I was told if an annuity is worth below a certain amount, I could cash it in. Michael Mather, 55, Cheshire. ——————————————————————————————————1/7—— Personal finance data index 150 FOR LOTTERY, WE HAVE THE LOTTO p123 Pension sp Business Pets Fin Prim BondsP169 $eletext 169 Nov27 21:18:23 ——————————————————————————————— an I sell off my annuity? Accountant Heather Rogers says viewer Michael Mather's low-value annuity problem is a common one. She says: "Due to badly performing investments from poor share returns, many people are being sold short on their retirement plans. "In many cases, people have paid out what they felt were sufficiently high contributions, only to find the forecasted income is very low." ——————————————————————————————————2/7—— Personal finance data index 150 FOR LOTTERY, WE HAVE THE LOTTO p123 Pension sp Business Pets Fin Prim BondsP169 (eletext 169 Nov27 21:13:08 ——————————————————————————————— an I sell off my annuity? Private pension funds have been hit by poorly performing investments, and high charges levied by some pension managers, says Heather Rogers. The accountancy expert says many people with low value annuities wish they had put their money in alternative "safe" investments such as property. She says: "Property can offer better returns and give the owner control of the funds at a later date." ——————————————————————————————————3/7—— Personal finance data index 150 FOR LOTTERY, WE HAVE THE LOTTO p123 Pension sp Business Pets Fin Prim BondsP169 Teletext 169 Nov27 21:13:19 ——————————————————————————————— an I sell off my annuity? Viewer Michael Mather wishes to cash in his annuity with the Prudential, as it is worth £3,105 and pays £7.82 a month. Advice Clinic expert Heather Rogers says if Mr Mather is not yet drawing on the pension he may be able to "unlock" it, and he should talk to an independent financial adviser (IFA). She says a high monthly pension cannot be obtained without well planned and regularly reviewed investment planning. ——————————————————————————————————4/7—— Personal finance data index 150 FOR LOTTERY, WE HAVE THE LOTTO p123 Pension sp Business Pets Fin Prim BondsP169 $eletext 169 Nov27 22:16:12 ——————————————————————————————— an I sell off my annuity? Advice Clinic expert Heather Rogers says that due to the increase in people switching jobs during a career, fragmented pension savings are common. She says pension changes introduced this year make it easier to save into a number of different pensions at the same time. She says: "A session with a financial planning consultant, regulated by the IFA, can help put savings in order." ——————————————————————————————————5/7—— Personal finance data index 150 FOR LOTTERY, WE HAVE THE LOTTO p123 Pension sp Business Pets Fin Prim BondsP169 (eletext 169 Nov27 22:01:16 ——————————————————————————————— an I sell off my annuity? People saving into an occupational money purchase pension scheme can now take the value of their fund and shop around for a lifetime annuity. Other changes introduced to pensions this April include a raising of the earliest age a personal or occupational pension can be drawn from 50 to 55, between 2006 and 2010. Heather Rogers works for Aston Accountancy in Milton Keynes. ——————————————————————————————————6/7—— Personal finance data index 150 FOR LOTTERY, WE HAVE THE LOTTO p123 Pension sp Business Pets Fin Prim BondsP169 $eletext 169 Nov27 21:00:59 ——————————————————————————————— Write to our experts for help (eletext's experts on investment, tax, pensions and property can help YOU! Send queries marked Advice Clinic to: Text 07624 809882 E-mail adviceclinic@teletext.co.uk Post (eletext Finance, Operations Centre, Bridgegate, Howden, DN14 7AE. Include your name, age and address. Answers will be updated weekly on air. We cannot answer all queries received. Information given is for guidance only. ——————————————————————————————————7/7—— Personal finance data index 150 FOR LOTTERY, WE HAVE THE LOTTO p123 Pension sp Business Pets Fin Prim Bonds