Pensions and Retirement Frequently Asked Questions

What is an annuity?

Answer

An annuity pays a guaranteed income for the rest of your life (however long you live). If you suffer from a medical condition or lead a lifestyle that could shorten your life expectancy you could boost your income further (this is called an enhanced annuity).

If you value the reassurance of knowing you'll receive a guaranteed income every year for the rest of your life, without taking any investment risk, an annuity may be the right product for you.

Read more information on Annuities

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