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Open at 9:00am Today

Opening Hours

  • Monday - Thursday

    9:00am - 8:00pm

  • Friday

    9:00am - 5:30pm

  • Saturday

    9:00am - 5:00pm

  • Sunday

    Closed All Day

Our Address

Key, Baines House,

4 Midgery Court, Fulwood,

Preston, PR2 9ZH


0808 156 2693

Why buy an annuity?

After years of working hard and saving money into a pension it's now time to secure your retirement income. Pension annuities give you the security of knowing that you will always have an income and not outlive your pension savings.

Annuities are among the most unique types of investments available and they are starting to see a revival in popularity following the Pension Reforms in March 2015.

There are advantages and disadvantages of buying an annuity and you should explore the alternatives before making any decisions, but annuities remain an attractive option for many retirees.

Saving a large enough pension pot to fund a lengthy retirement is hard, so why not ensure you end up using every penny for its intended purpose?

Ideally you would manage to predict your life expectancy so accurately that you neither run out of money nor leave a large legacy. But this is almost impossible and hugely risky.

This is where an annuity can do all the hard work for you; allowing you to use every penny of your pension pot for its intended purpose, but also guaranteeing that you will never run out of money.

The best bit is that once you have bought your annuity, the money will just arrive in regular intervals until you pass away (or until your surviving spouse passes away, if you buy ‘joint life’ annuity or until your guarantee period runs out).

Reasons to buy an annuity

  1. You will have a reliable income source, guaranteed for life.
  2. It is low risk and will not be subject to market fluctuations like other investments are (unless you buy an investment-linked annuity).
  3. You can combat the effects of inflation by choosing an annuity where the income increases in line with inflation.
  4. Your health and lifestyle choices such as being a smoker can work in your favour and you could get preferential rates
  5. Buying an annuity is a one-off decision so requires no ongoing management.
  6. You can shape your annuity to match what’s important to you, for example ensuring your spouse is looked after financially when you are no longer around.

Questions about annuities?

Your annuity enquiry will be referred and serviced by our preferred partner, who will be able to offer you specialist annuity advice.

Our partner will happily answer any questions you have and help you to decide when to buy an annuity. 
Page last updated: Monday 16 March 2020