What Are Pension Annuities?
The UK Treasury reports that up to 280,000 retirees per year fail to exercise their right to choose their annuity using the open market option. We help ensure that you don’t fall into the same trap. The more information you have the more able you will be to recognise the best advice when you receive it. An annuity is an arrangement where you make a lump-sum investment and from this investment you receive a guaranteed level of income. Most annuities are bought using funds held in money purchase pension schemes. An annuity is payable for your lifetime, although it is possible to select a fixed period if purchasing an annuity with cash rather than pension funds. This information is purely here to help you understand more about annuities. It is important that you do not use this information in isolation. You are very strongly advised to take professional advice before buying an annuity and you can then choose the best annuity scheme that suits you. Various pension annuity options are discu
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