What is an Annuity?
A pension annuity converts the funds built up in your pension and gives you an income for the rest of your life and your spouse’s/partner’s/financial dependent’s life. Using a lump sum from your pension or savings to buy an annuity means you don’t need to worry about budgeting for an unknown period of time.
There are a number of annuity types (conventional, temporary or fixed term, unit linked and income choice) and many providers providing annuities, so finding the right annuity for you can be quite a challenge. As a pensions specialist and a ‘whole of the market provider’ we can go into the market and find the annuity that best meets your needs.