pension annuities

Pension Annuities

An annuity converts your pension fund into pension income which you will be paid for the rest of your life.

Investment Discounts On-Line Limited
3 Mason Court,
Gillan Way,
Penrith 40 Business Park,
CA11 9GR is a trading style of Investment Discounts On-Line Ltd.

1. The Financial Conduct Authority (FCA)

The FCA is the independent watchdog that regulates financial services. This document has been designed by the FCA to be given to consumers considering buying certain financial products. Use this information to decide if our services are right for you.

2. Whose products do we offer?

  We offer products from the whole market.
  We only offer products from a limited number of companies. Ask for a list of the companies whose products we offer..
  We only offer products from a single insurer.

3. Which service will we provide you with?

  We will advise and make a recommendation for you after we have assessed your needs.
You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide
details on. You will then need to make your own choice about how to proceed.

We will provide basic advice on a limited range of stakeholder products and in order to do this we will ask some questions about your income, savings and other circumstances but we will not:
  • Conduct a full assessment of your needs.
  • Offer advice on whether a non-stakeholder product may be more suitable.

4. What will you have to pay us for our services?

  Before we provide you with advice, we will give you our keyfacts guide 'about the cost of our services'.
  We will tell you how we get paid, and the amount, before we carry out any business for you.

5. Who regulates us?

Investment Discounts On-Line Limited, 3 Mason Court, Gillan Way, Penrith 40 Business Park, Penrith, Cumbria. CA11 9GR is authorised and regulated by the Financial Conduct Authority. Our FCA Register number is 197451. Investment Discounts On-Line Ltd is part of the Legal & General Group.

Our permitted business is arranging investment products, pension products (except pension transfers and pension opt outs) non-investment pure protection products and non-investment insurance products.

You can check this on the FCA's Register by visiting the FCA's website or by contacting the FCA on 0800 111 6768.

6. Loans and Ownership

Legal & General owns 49% of our share capital.

7. What to do if you have a complaint

If you wish to register a complaint, please contact us: writing : Write to Investment Discounts On-Line Ltd, 3 Mason Court, Gillan Way, Penrith 40 Business Park, Penrith, CA11 9GR. phone : Tel: 0800 915 7885 email :

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

8. Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.
Most types of investment are covered for 100% of £50,000.

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.

Annuity rates... how much will I receive?

A number of important factors can affect the level of income you receive from your annuity, such as:

  • 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

Buying an Annuity at offers a non-advice service for annuities.

Following recent budget announcements, we are currently reviewing our Pension Annuities offering. Please check back soon. uses cookies to ensure you get the best experience when using our website. By continuing you are agreeing to our use of cookies as described in our privacy policy. Read Our Privacy Policy