Annuity

Target market

This product is suitable for clients who:

  • Want a guaranteed income for their lifetime using money from their pension policies.
 

In brief

  • Your client can buy an annuity with their retirement fund
  • An annuity will give your client a guaranteed income for their lifetime
  • The amount your client receives is based on age, options they choose, for example indexation of income and amount of the retirement fund
  • Income payments are taxed under the PAYE system