Lifetime Annuity
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Lifetime annuity
A lifetime annuity pays a guaranteed income for as long as you live. It’s simple, predictable, and often used to cover day-today essentials. Many retirees combine it with drawdown or savings for additional flexibility
Pros
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Income guaranteed for life – no matter how long you live.
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Options for joint-life cover, value protection, and inflation increases.
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Straightforward setup and minimal ongoing management.
Cons
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Once purchased, an annuity can’t usually be changed or cancelled, and rates depend on market conditions at the time of purchase.
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Adding inflation protection or joint-life cover reduces the starting income.
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If you choose a level income, inflation may erode the spending power of your payments over time.
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Inflation may erode the spending power if a level income is taken.
Frequently Asked Questions
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Independent advice considers the entire market of financial products, while restricted advice focuses on a defined range of providers or product types. Both are regulated and must act in your best interests.
A general investment account (GIA) is a simple way to invest your money in a wide range of assets, like stocks, shares, and bonds. It’s flexible and allows you to hold different types of investments in one place.
Opening a Stocks and Shares ISA is simple:
Choose a provider – such as a bank, investment platform, or financial adviser.
Compare fees and features – Look at account charges, investment options, and ease of use.
Apply online or by phone – You’ll need to provide: Your name, address, NI number. and Proof of ID.
Fund your account – Add money (lump sum or monthly), and start investing.
If you’re unsure where to start, many providers offer ready-made portfolios based on your risk level.
