An
annuity can turn your pension 'pot'
into a secure income
Making the most of your pension fund when you retire
Your retirement
years could easily account for a quarter of your lifespan*. So, once
you've built up your hard-earned pension 'pot', you'll want to be
sure you make the right decisions about how to convert it into a
regular income. The traditional route is to buy an annuity. You can
do this from the age of 50 (55 from April 2010), even if you're still
working. You must use your pension fund to buy an annuity by age 75.
*According to the office of National Statistics, a woman aged 65 in 2002 could expect to live to the age of 84.
*According to the office of National Statistics, a woman aged 65 in 2002 could expect to live to the age of 84.
Conventional Annuities at a glance
- * Straightforward and easy to understand
- * Available for pension funds of all sizes
- * Your income is secure for life
- * No need to monitor your investment
- * No risk of stock market falls, or economic slumps
