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about the pension annuity service
additional benefits
alternative flexible annuities
annuity income frequency
annuity alternatives explained
annuity - economic conditions
annuity factors explained
annuity guide book
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annuity terms offered by provider
annuity - the effect of timing issues
annuity types explained
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conventional annuities
costs of using retirement advice service
escalating annuities
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getting the most out
impaired life annuities
income drawdown
index - home page
inflation - the effects on your annuity
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open market option
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pensions act 2004
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protected rights
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retirement annuity terminology
self invested annuities
staying working whilst drawing pension
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your pension explained

Link to parent company website, Richmond Independent

Annuity Types > background

Annuities available range from being very simple and transparent (Conventional Annuities) to the more complicated and risky (annuities containing an investment element).

NOTES
Annuity schemes where there is no contingency for inheritants generally give better annuity rates because the scheme can benefit from the Mortality Bonus*.

In times of low gilt and interest rates, an equity content may help to give you a greater return on your pension fund capital (providing the equity markets follow long term performance trends – there is no guarantee that this will happen).

Annuity types are as follows:

Conventional annuities
These are straightforward – provides initial highest annuity rate.

Lifestyle / enhanced annuities
Straightforward – for people at higher risk of reduced life expectancy.

Impaired life annuities
Straightforward – for people with serious illnesses.

Purchased life annuities
Not a compulsory purchase annuity, but has uses.

Flexible annuities
These tend to be complicated – investment related.

With-profits annuities
Complicated – investment related.

Unit-linked annuities
Complicated – investment related.

Self-invested annuities
Complicated – investment related

 

Your Annuity

Using our service

PAAS

The Pension Annuity Advisory Service is a trading style of Richmond Independent, which is an appointed representative of John Ellis IFA Ltd which is authorised and regulated by the FSA