Annuities

This annuity provides you with a guaranteed income for the rest of your life, which you can choose to be paid at the same level or by an increasing amount each year.

• You can receive your pension income either monthly, quarterly, half-yearly or yearly.
• You can choose an income that stays at the same level or increases each year either by a fixed percentage or in line with inflation.
• Talk to your adviser and find out how to apply for a Pension Annuity.

A guaranteed income for life

Our Pension Annuity pays you a guaranteed income for the rest of your life. You can choose whether this is paid at the same level or an increasing level each year - and whether it increases by a fixed percentage or in line with inflation (measured by the Retail Prices Index).

What is our Pension Annuity?

It's a retirement income plan, which you buy with your pension fund. The minimum amount you'll need to buy a Pension Annuity is £10,000, after you've taken any tax-free cash.

What are the options?

The options you choose will affect the amount of pension income you'll get. You can get a personal illustration so that you can see the difference the various options make to your pension income. Find out more about the different options available.

What are the benefits?

• Guaranteed income. It promises to pay you a regular income for life, so it's a low-risk option.
• Income choice. Your pension income can be paid monthly, quarterly, half-yearly or yearly, either 'in advance' (this means that payment of your pension income will be from the start date) or 'in arrears' (payment will be one month, quarter, half-year or year after the start date, depending on your chosen payment frequency).
• Clear charges. Our charges for setting up and running your plan are taken into account when we work out your pension income. No further charges will be taken.

Things to think about

• Cash-in value. Once you've bought your annuity, it has no cash-in value at any time.
• Your annuity ends when you die. This means that you may not receive your money's worth from your annuity if you die soon after taking it out.
• Changing your plan. The options you choose at the start of your plan can't be changed.

How to apply

If you think that our Pension Annuity is right for you, find out more about how to apply. If you need help deciding which annuity or options are most suitable for you, you can call one of our advisers or talk it over with your own financial adviser. You can find an adviser in your area at www.unbiased.co.uk.

* Lines are open Monday to Friday 8am - 9pm, Saturday 9am - 5pm and Sunday 10am - 4pm. Calls may be recorded and/or monitored.

WC01042 09/2008