Annuity

Secure Your Future: Grow Your Wealth

An Annuity is a guaranteed income paid at regular intervals (usually for life) in exchange for a lump-sum premium or instalment payments. The two-thirds (2/3) DC portion can be used to purchase either an annuity or an income drawdown.

Purposeof an Annuity:
Retirees need a reliable income stream to maintain their lifestyle after retirement. An annuity ensures lifelong income, protecting you from outliving your savings.

Features of an Annuity:

• Payment Options – Level (fixed payments) or escalating (increasing payments, though starting lower).
• Tax Relief – Annuities are exempted from tax.
• Issued by Insurers – Provided by licensed life insurance companies.
• Lifetime Security – Guaranteed income you cannot outlive.
• Coverage Type – Available as single-life or joint-life (covering a spouse).