Product Retirement Lifetime Annuities Scheme Pension 680X392

Lifetime Annuities & Scheme Pension

A secure, regular income for life

Introducing our Lifetime Annuities & Scheme Pension

Our lifetime annuity uses the money saved in your pension plan to give you a guaranteed, regular income for life. You can also choose to provide an income for your chosen beneficiary(ies), like a spouse or partner.

Once you’ve set up your policy, you can’t revise or cancel it so we recommend that you seek professional advice before you apply.

Key benefits

Additional Borrowing
Receive a guaranteed income for life
Money 3
Option for your income to increase over time
Flexibility
Choose from a range of death benefits
Mobile 1
Access your tax-free cash

Is it right for me?

This product may be right for you if:

  • You are aged 55 or over
  • You want to take benefits from your pension equal to at least £10,000 after you’ve taken tax-free cash
  • You need a guaranteed lifetime income
  • You want your loved ones to receive an income and/or lump sum after your death

This product will not be right for you if:

  • You have less than £10,000 of pension savings to invest after you’ve taken tax-free cash
  • You want to grow your pension savings and/or need flexible access to your money
  • You want to make personal contributions
  • You want to withdraw all of your funds immediately in one go
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What are the risks?

The value of your investment can go down as well as up and you may get back less than you invest. Tax rules depend on the type of investment and individual circumstances and may change.

Also worth knowing

Useful tools

Pension Tax Calculator

Find out the amount and percentage rate of income tax you’ll need to pay on any pension funds you withdraw.

Learn more

Budget planner

This online tool looks at your income and outgoings to help you understand and manage your budget.

Learn more

Life Expectancy Calculator

Find out your average life expectancy, so that you can successfully plan for your future.

Learn more

Next steps

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Need an adviser?

Get a tailored quote for this product from a financial adviser. To find one, visit Unbiased.

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