ANNUITY ADVICE
A pension annuity turns your pension savings into a regular, guaranteed income for the rest of your life. No matter how long you live, your income will continue to be paid. This means you always know exactly how much money you’ll receive, helping you plan confidently for your retirement. For many people, annuities provide a dependable and worry-free way to fund later life.
There are different types of annuities to choose from:
- Lifetime annuity This is the most common type of annuity. It pays you a guaranteed income for the rest of your life. Payments usually stop when you die, unless you choose extra options such as an income for your spouse or dependant, a guaranteed payment period, or protection to pass on some value to your loved ones.
- Fixed Term Annuities A fixed term annuity provides a guaranteed income for a set period of time, such as 5 or 10 years. You invest a lump sum and receive regular payments, usually every month. The amount you receive and how long it will be paid for are agreed in advance, giving you certainty now while keeping your options open for the future.
As independent advisers, we help you understand your choices and shop around the market to secure the best possible income for your circumstances.