Financial security is all important to retirees, and despite the fact that it is no longer obligatory to invest a maturing pension pot in an annuity, many people are likely to want to do so, at least in relation to part of their pension pot, because, unlike investments, annuities provide a guaranteed income for life.
The most important factor influencing the amount of income which can be obtained by buying an annuity is the length of time for which the income is likely to be paid - i.e. the prospective lifespan of the annuitant.
So, if you are seeking a guaranteed level of income from your pension, risk free – then there is still life in the annuity!
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