- Beginners Guide to Pensions and Retirement
- Quick Pension Calculator
- Monthly e-newsletter
Annuities
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.
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
