Buying A Pension

We considered the different ways in which you might secure your retirement income in the page “Your options” and in this section. Regardless of the way in which you will secure your retirement income there are a number of further decisions that you will need to take to settle the “shape” of your retirement income.

“Shape” factors to consider

The following options are available to you so that you can tailor your annuity to suit your needs and personal circumstances. Generally speaking, the more options that you include the lower the initial level of your retirement income. But remember that the option(s) may provide you, or your dependants, with valuable protection in later years.

For further information on the options available to secure a retirement income click on the headings below.

    • With or without proportion

A helpful decision tree for each of these options is set out in the following table.