Correspondence: Mike Fuller, Just Retirement Limited, Vale House, Roebuck Close, Bancroft Road, Reigate, Surrey RH2 7RU, UK. Tel: +44 1737 233027; E-mail: mike.fuller@justretirement.com

¹is Chief Executive Officer of Just Retirement, the leading provider of enhanced annuities in the UK. From 1999 until 2003 he was Chief Executive of Britannic Retirement Solutions. Before this, Mike was Managing Director of Stalwart Assurance, then the leading UK equity release provider, where he was instrumental in Stalwart's launch in August 1995 of the UK's first enhanced annuity, a 'smoker's annuity'. Stalwart's product range was subsequently extended to include annuities for those with lifestyle and critical illness factors, before Stalwart was sold to GE Capital by its private equity owners, subsequently changing its name to GE Life. Mike has over 40 years' experience in the UK life assurance industry, is a fellow of the Institute of Actuaries and an FSA Approved Person.

Received 30 September 2008; Revised 30 September 2008.

Abstract

Mike Fuller of Just Retirement argues that, despite increased flexibility available to retirees, annuities still offer good value for money for most people in the UK, provided that simple steps are taken to obtain the most appropriate rate and that full account of health is taken at retirement.