We use essential cookies to enable our website to function
and non-essential cookies for marketing purposes. You can
change your cookie settings here, otherwise we’ll assume
you’re OK with the current settings.
Some cookies are optional, you can opt in or out of these
Marketing cookies – These cookies help us tailor the
advertisements you see on third party sites by
understanding what interests you on our sites, such as the
pages you view. We don’t combine this information with
other personal information you provide us with.
Tracking cookies – These enable us to recognise repeat
visitors to the site. By matching an anonymous, randomly
generated identifier, we’re able to record specific browsing
information such as how you arrive at the site, the pages
you view, options you select, and the path you take
through the site. By monitoring this information we’re able
to make improvements to our sites.
Social cookies – These cookies allow you to share and like
our pages through your favourite social network sites.
An annuity is a guaranteed, regular income which you buy from an insurance company (provider) with your pension savings when you retire.
You will receive an income from the insurance company for the rest of your life, or longer depending on the choices you make when you buy your annuity.
When you choose to retire – anytime from age 55 - you can normally take up to 25% of your total pension pot as a tax-free lump sum immediately. The remainder can then be used to buy an annuity which will pay you a taxable income for the rest of your life.