Sentence examples for take an annuity from inspiring English sources

This is particularly pertinent for anyone relying on their pensions to fund their retirements – for example, if the underlying investments shrink when it comes time to take an annuity.

"If I had been forced to take an annuity, I probably wouldn't have taken advice, but now I am going to have to think about where to take that [advice] and how much to pay," she says.

People on money-purchase pension schemes will no longer be forced to take an annuity – the income guaranteed by pension providers in exchange for receiving all or part of the funds in their pension pot.

I should declare an interest as someone who stands to benefit a lot by the new choices available to me, but the abolition of the rule that you have to take an annuity is enormously empowering for everyone who doesn't have a proper salary-related scheme.

There will be more demand for income drawdown – products that allow savers to withdraw cash from their retirement pot – from 6 April 2015 when over-55s will be able to access all the money in their defined contribution pensions, rather than take an annuity.

The group's specialism, the provision of pension annuities to people with medical issues, had been badly hit by the Chancellor telling people they didn't have to take an annuities out any longer with their pension savings.

"There are real advantages to taking an annuity," she said.

'There is a strong argument for many people to defer taking an annuity until they are in their seventies,' says McPhail.

From 6 April, anyone over the age of 55 with a defined contribution (DC) pension scheme, one where returns are linked to the stock market not their earnings, will be able to access all of the money in their pension pot instead of taking an annuity.

"They found a dramatic pickup in the number of people who were able to take a partial annuity," said Ms. Strakosch.

At retirement, employees in the Alternate Plan can choose to take the money in a lump sum, take monthly benefits for a given time period or take a lifetime annuity, with slightly reduced benefits.