: Continues to pay a portion of the income to a partner or beneficiary after your death.
: Increases each year, either by a fixed percentage or in line with inflation, to protect your purchasing power. Key Considerations Before Purchasing Consumer's Guide to Understanding Annuities
: You pay a lump sum from your "defined contribution" pension to an insurance company. buying a pension annuity
: Pays an income for a specific number of years rather than for life.
: In return, the insurer provides regular payments that act like a salary during retirement. : Continues to pay a portion of the
: The amount you receive depends on several factors: The total size of your pension pot.
: Provides a guaranteed income for the remainder of your life, no matter how long you live. : Pays an income for a specific number
Current annuity rates (which recently reached an 18-year high due to rising gilt yields). Your age and health status. Common Types of Annuities