Plan Your Retirement Income

An annuity turns pension savings into steady income, often for life. You choose how often it pays and who it protects.

Fixed income stays the same. Escalating income starts lower, then rises each year to help with future costs.

Yes. A joint-life annuity can keep paying part of the income to your spouse or partner after you die.

If you have health issues, smoke, or a shorter life span, an impaired-life annuity may pay more.

Drawdown gives more choice, but income can change. Annuities give set payments, so they suit people who want certainty.

Yes, annuity income is usually taxed as pension income. The tax office sets the rules, so check your code and allowance.