Pension Annuities

What is an Annuity?

An annuity converts your pension fund into pension income which you will be paid for the rest of your life. Choosing the right annuity is an important decision which can have a big impact on your financial circumstances. You don't have to buy your annuity from your current pension provider and can often get a higher income by shopping around. Use our annuity calculator now.

Annuity rates... how much will I receive?

A number of important factors can vary the level of income you receive from your annuity, including;

• The initial size of the pension before purchase of your annuity
• Your age, lifestyle and medical history
• How often you would like to receive payments
• Current interest rates
• Whether you decide to receive part of your pension as a tax free lump sum
• The options available to you from your chosen provider
• Whether you include a pension for a spouse or partner when you die
• Whether you choose a guarantee period

theidol.com offers a non-advice service for annuities. When purchasing on a non-advice basis you will have to make important decisions that may have an impact on the pension you are paid for the rest of your life for example, the provision of spouses or dependant's benefits, increases in payment and any payment guarantee periods. We strongly recommend that you consider your options very carefully as once you have purchased your annuity and the cancellation period has passed you will not be able to change your mind. Compare pension annuities first for more information.

To obtain a quotation, simply complete the quote application form and we will instantly obtain quotes from our panel of leading annuity providers.