If you have been contributing a defined sum to a pension scheme during your working life, you will have to decide what to do with your pension fund, once you retire.

You can choose to buy a lifetime annuity.  This will give you a guaranteed income for life.



  • Vary the amount of income paid out
  • Withdraw a lump sum from an annuity
  • Pension fund is returned to your family after your passing
  • Takes into account inflation
  • Will pay higher if you become unwell

Frequently Asked Questions

Once you have signed for an annuity and if you have started receiving income, your decision is irreversible. You cannot change service providers or take the money to invest in something else.

  • Lifetime annuities
  • Enhanced annuities
  • Impaired life annuities
  • Postcode annuities
  • Temporary annuities
  • Investment-linked annuities
  • Purchased life annuities (PLAs)

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