Buying A Pension Annuity -

: Offers higher income if you have certain medical conditions or lifestyle factors (e.g., smoking) that may shorten life expectancy.

Current annuity rates (which recently reached an 18-year high due to rising gilt yields). Your age and health status. Common Types of Annuities buying a pension annuity

: In return, the insurer provides regular payments that act like a salary during retirement. : Offers higher income if you have certain

: The amount you receive depends on several factors: The total size of your pension pot. Common Types of Annuities : In return, the

: Continues to pay a portion of the income to a partner or beneficiary after your death.

: Provides a guaranteed income for the remainder of your life, no matter how long you live.

: You pay a lump sum from your "defined contribution" pension to an insurance company.