Buying A Pension Annuity ✰

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

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

: Offers higher income if you have certain medical conditions or lifestyle factors (e.g., smoking) that may shorten life expectancy. : Continues to pay a portion of the

: In return, the insurer provides regular payments that act like a salary during retirement. buying a pension annuity

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

: The amount you receive depends on several factors: The total size of your pension pot.

: Pays an income for a specific number of years rather than for life.