Buying A Pension Annuity File

: Pays an income for a specific number of years rather than for life.

: The amount you receive depends on several factors: The total size of your pension pot. buying a pension annuity

: Provides a guaranteed income for the remainder of your life, no matter how long you live. : Pays an income for a specific number

: Continues to pay a portion of the income to a partner or beneficiary after your death. buying a pension annuity

: You pay a lump sum from your "defined contribution" pension to an insurance company.

Current annuity rates (which recently reached an 18-year high due to rising gilt yields). Your age and health status. Common Types of Annuities