Annuity

Annuity

After decades of hard slog you may start to look forward to retirement - a life of holidays, hobbies and unlimited daytime telly. But it comes at a cost.

No job = no wages, which is where an annuity can help. You hand a pile of money (your retirement savings) to an insurance company and they promise to pay you a fixed income for the rest of your life. This is either a flat amount or it can rise with inflation if you pay a little more.

The alternative to an annuity is to keep your money and live off it - and hope it outlives you.

 
 
Asset allocation

Asset allocation

Emerging markets

Emerging markets

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