You can buy an annuity with the money you have saved in your pension, which will give you a guaranteed income for life.
The amount of income you receive depends on a number of things like your age, the size of your pension pot, your health and lifestyle, and annuity rates when you take your retirement benefits.
Your Second Life. Your Way.
Live the Second Life you want to lead with a Standard Life Annuity.
Who can take out an Annuity?
No matter who your pension is with, you can choose a Standard Life Annuity if you have one of the following:
- Personal pension policy
- Approved retirement fund or approved minimum retirement fund
- Company pension
- Buy out bond
- Personal retirement savings account (PRSA)
Why choose a Standard Life Annuity?
- Guaranteed income for life
- Options like having your payments increase each year, or a joint annuity that pays your spouse or civil partner after you die
Once you purchase an annuity you can’t cash it in. And there’s normally nothing payable after you die, unless you’ve chosen certain options.
How to get started?
Professional financial advice is one of the best investments you can make. That’s why talking to your financial adviser will get you off to a good start. We recommend it. If you don’t already have one, find one with www.brokersireland.ie.
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