An annuity converts your pension savings into a monthly or yearly guaranteed retirement income for you to live on (usually) for the rest of your life.
Important informationPlease remember the value of your investments and any income from them can go down as well as up and you may get back less than the amount you originally invested.
All investments carry an element of risk which may differ significantly. If you are unsure as to the suitability of any particular investment or product, you should seek professional financial advice.
Laws and tax rules may change in the future without notice. The information here is our understanding in March 2017. This information takes no account of your personal circumstances which may have an impact on tax treatment.