Annuity Guide
The following table is intended as a guide, to help you decide whether an annuity, or an alternative retirement product, best suits your requirements.
Retirement options
Your Requirements |
Retirement Product |
Are you looking for a guaranteed, risk free income? Fit and healthy and non-smoking. |
Conventional annuity |
Are you looking for a guaranteed, risk free income? Have you any medical or lifestyle conditions? |
Enhanced annuity |
Are you looking for a guaranteed, risk free income? Suffering from more serious medical conditions? |
Impaired life annuity |
Do you have a spouse or partner to consider? |
Joint life annuity, and/or a guarantee period. |
Are you looking for the guarantee of a rising income to combat inflation? |
An escalating annuity payment option, or an inflation proof annuity. |
Do you want to be able to adapt your future income to match your changing circumstances? |
Fixed term annuity |
Are you looking for the potential of a rising income with possible growth from your pension fund? |
Investment linked annuity |
Have you National Insurance rebates in a personal pension, having contracted out of SERPS? |
Protected rights annuity |
Are you looking for guarantees and flexibility in your retirement? |
Guaranteed drawdown |
Do you have a larger pension fund and are you looking for flexibility in your retirement? |
Income drawdown |
Are you looking to phase your retirement over time? |
Phased drawdown |
