Split Annuities options

Split

A split annuity is a combination of two annuity products – immediate and deferred.

A portion of your retirement savings will be used to buy a fixed interest single premium immediate annuity which will provide you with a steady income and is guaranteed no matter what happens to the stock market. These payments will be made for a number of years – depending how many you have selected. Many split annuities cover five to ten years.

Meanwhile, another portion of your retirement savings will be placed into a fixed interest single premium deferred annuity which offers tax-deferred growth. This means that once there are no funds left in the immediate annuity, the deferred annuity can provide a new income stream.

If you are considering a split annuity, it may be worth talking to an adviser. You can talk to one of our advisers by filling in our enquiry form.

Pensions

Split

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