What is a Pension Annuity?
Published 18/03/2016 11.34 AM | Updated 28/03/2017 10.37 AM
A Pension Annuity converts the pension fund you have built up over the course of your working life into a regular income that will be paid to you for the rest of your life. Because it's paid to you for as long as you live, it's a kind of insurance policy to make sure you don't run out of money if you live longer than expected.
Did we answer your question?