Annuities

Norwich Union is one of the UK's leading providers of annuities and pension annuity products. All our annuities will secure you a regular income, which will last for the rest of your life. It's important to choose the right type of annuity to make sure you get the best possible income for your retirement.

Pension Annuity

Our Pension Annuity pays you a guaranteed income for the rest of your life which you can choose to receive at the same level or by an increasing amount each year.

• Receive your pension income either monthly, quarterly, half-yearly or yearly
• You can choose an income that increases each year by a fixed percentage or in line with inflation as measured by RPI (Retail Price Index)

Enhanced Pension Annuity

Designed for those who don't have a clean bill of health, our Enhanced Pension Annuity pays a higher income for the rest of your life, depending on a range of conditions covered.

• Pays a higher income if you have (or have previously had) certain conditions affecting your health.
• Choose from a range of options, which will affect the amount of income you get.

With Profits Pension Annuity

If you're happy to accept a higher risk, this annuity provides the potential for your pension income to grow in retirement through investing in the Norwich Union With-Profit Fund.

• Our With-Profit Fund invests in a wide mix of assets to help spread the risk of investing.
• Your income can go down, but our guaranteed minimum floor means your income will never fall below a minimum amount.

Immediate Life Annuity

Unlike our other annuities, which you buy with your pension fund, an Immediate Life Annuity is bought with your money, which you want to use to provide additional income in retirement.

• You can choose how you receive your annuity income - either monthly, quarterly, half-yearly or yearly.
• You can choose an income that stays at the same level or increases each year by a fixed percentage.

Your income, your choice

An annuity is a way of providing a regular income for the rest of your life. In most cases, you use your pension fund to buy an annuity - except for an Immediate Life Annuity, which you buy with your own money. You can arrange your annuity to suit your own particular needs by choosing from a range of options.

For example, it may be important to you that your income stays in line with inflation (the Retail Prices Index) or that your dependants receive an income when you die. Its important to consider your needs carefully as the options that you choose to add will reduce the amount of income that you receive and can't be changed once you've started your plan.

You can buy your annuity from any provider - and it certainly doesn't have to be with the company you had your pension with. The amount of income you receive from your annuity will vary between different insurance companies so its a good idea to do some comparisons before making your decision.

Why choose Norwich Union?

• Norwich Union was Highly Commended by Moneyfacts in 2007 for being one of the most competitive annuity providers.
• We're one of the UK's leading annuity providers and currently pay out annuities to over 350,000 customers.
• Norwich Union is part of Aviva, the world's fifth-largest insurance group and the largest insurance services provider in the UK. Aviva is the leading provider of life and pension products in Europe, with over 45 million customers worldwide.

WC01028 09/2008