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What is a pension annuity?
When you reach retirement, it's important to be able to have the lifestyle you've been working towards. By using the money built up in your pension plan you can buy an annuity to pay you an income for the rest of your life.
Annuities can usually be paid from age 50 (55 from 2010) and as with most financial products there are many different types. We can help you find the best retirement annuity for you - and those who depend on you.
Remember:
- You don't have to take the annuity on offer from your existing pension provider. The Financial Services Authority recommend that you shop around - you may get a better deal elsewhere.
- You can guarantee your annuity income to provide for your dependants after you die.
- Buying an annuity is one of the most important financial decisions you will ever make. You can normally only make this decision once and are then locked in for life - so it's important to get it right!
Find out more about the different types of annuity available.
Find out more about how Bank of Scotland Annuity Service can help.
