Annuity

A regular income you can buy with your pension savings. It usually pays you an income for the rest of your life, although some pay for a shorter period.

There are quite a few kinds of annuity – each with different benefits.

  • You can shop around on what’s known as the open market option – meaning you can contact different annuity providers for estimates of how much income you could get.
  • Each annuity has different rates and features, like inflation-proofing or covering your partner.
  • Research what’s best for you – as once you buy an annuity, normally you can’t change your mind.

Although we don’t offer one ourselves, we can help you transfer to a provider that does when the time comes.

More about how you can take your pension savings »