An annuity is a secure, regular income which you purchase from an insurance company using your pension fund when you choose to retire. The insurance company is then responsible for paying you a secure income for at least the rest of your life.
You will need to make some choices about the type of annuity you want to buy. There are lots of different types on the market, and annuity rates vary quite a lot. We recommend you talk this over with a financial adviser.
It’s an important decision, as once you’ve bought an annuity, you can’t change your mind or switch even if your personal circumstances change.
The April 2015 budget brought in a number of new changes to pensions, which means everyone now has more choice about what to do with their pension savings. An annuity is not your only option.
When you request an annuity quote from us we’ll compare the rates available from both ourselves and our chosen annuity provider, Legal & General. We’ll then send you the quote from whichever company offers you the best deal. You’re free to accept the quote we send you, or choose an annuity from someone else.
Call us on 0345 122 3007 to get an annuity quote or to find out more about the annuities we offer. Or download our
Key Features document. We recommend you shop around to find the best annuity rate possible.