Who is a guaranteed pension annuity suitable for?Tue Apr 25 15:31:00 BST 2017
It's most suitable for customers who:
- are in good health and have a pension fund they’d like to convert into a retirement income;
- want a reliable income for the rest of their life;
- are aged between 55 and 75;
- have a pension fund of more than £5,000, and
- don’t want, or can’t afford, to risk any of their retirement income.
It may not be suitable if customers:
- are in poor health or have an unhealthy lifestyle, or
- would like a plan which can adapt to meet their changing needs.
If you're unsure about your options, you should speak to your financial adviser. If you don't have a financial adviser, you can find one in your area at unbiased.co.uk(Opens new window)
Any guarantees are based on the ability of the issuing insurance company to pay them. If, for example, that company no longer existed, then the guarantees it provides would be affected.