Current annuity rates (which recently reached an 18-year high due to rising gilt yields). Your age and health status. Common Types of Annuities
Buying a pension annuity is a significant financial decision that involves converting your pension savings into a guaranteed regular income for the rest of your life or a set period. This process, typically available from age 55 (rising to 57 in 2028), provides "peace of mind" as the income is generally unaffected by stock market fluctuations or interest rate changes once established. How Buying an Annuity Works buying a pension annuity
: The amount you receive depends on several factors: The total size of your pension pot. Current annuity rates (which recently reached an 18-year
: In return, the insurer provides regular payments that act like a salary during retirement. This process, typically available from age 55 (rising