Annuities > Pension Annuity Application

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What happens when I have filled out a pension annuity application?

Once you have filled out a pension annuity application, the retirement specialist will send a number of important documents. The pension holder should read these documents carefully to make sure that they are the best retirement solution. These documents will include:

• A letter clearly showing which annuity has been chosen and the features and benefits of this annuity.
• A personal illustration showing the annuity income of the pension holder, from different annuity companies.
• A Key Features Document that outlines the commitments, goals and risk factors associated with the annuity chosen.

How is my pension fund transferred to purchase an annuity?

Once the pension holder has decided which annuity to purchase, the next stage is the payment of benefits. This will be arranged by the retirement specialist you have chosen, and the transfer of monies will be completed by the pension provider. The annuity purchase process can take between four and six weeks to complete.

How do I find out more about annuities?

Please click here to read the Pensions.co.uk guide to pension annuities. Because some of the terms relating to this product are confusing, please also visit our glossary of terms for a full explanation of the jargon.