When can I buy an Annuity?
When it comes to thinking about retirement, investments and pensions are high on the priority list. In the current marketplace there are many options available to both individuals and couples to help ensure that they are receiving the best income for their retirement investments.
Pension annuities have become a popular choice in recent years, mainly by people who are looking to make a lump sum investment upon retirement. In addition, annuities provide a regular income to retirees right up until the day of their death. There are a range of annuity packages currently available to anyone once they pass the retirement age and these can be selected at any time from age 55 – but this age could be set to change in upcoming years as the retirement age in the UK continues to rise.
What is a Pension Annuity?
A pension annuity a way of investing your pension fund to ensure that you receive a regular sum, similar to a wage, that you are able to spend as you please. Pension annuities can be taken out at any time after age 55.
There are a wide range of annuities available in the current marketplace which are suitable for both individuals and families. In addition you are able to take out additional options, which help to ensure that your income continues in the event of death, ensuring that both you and your family are not left out of pocket as the result of investing in an annuity.
Why might I choose to buy one?
Annuities can be a popular choice for many reasons, one of the main reasons is that when purchasing an annuity, investors can usually take a lump sum payment to kick start their retirement. In addition, they are able to select what type of annuity plan they want to invest in and the types of returns they are aiming for.