What are the options?

The options you choose when you take out your Immediate Life Annuity will affect the amount of cover you'll get. Generally, the more you add, the lower your starting income will be. You can get a personal illustration from your financial adviser which will show the difference the various options would make to your income.

Payment options

Your income can be paid monthly, quarterly, half-yearly or yearly, either:

Next steps

Pension Wise

Pension Wise is a free and impartial service set up by the government for people retiring with defined contribution pensions. It will help you understand what your choices are and how they work.

You'll be able to get help on the Pension Wise website, over the phone or face to face about:

  • what you can do with your pension pot
  • the different pension types and how they work
  • tax you pay on your pension.

If you're not sure about your options at retirement you should seek appropriate guidance or advice.

Speak to a financial adviser

Nothing on this site is personalised advice or a recommendation. If you need a personalised recommendation based on your personal circumstances, you should seek financial advice. We can't give you advice but we can put you in touch with an adviser who can talk to you about which financial products or investments may be right for you.

Call a member of our team on

0800 533 5195

Monday to Friday - 9.00am - 5.00pm

For our joint protection, we may record our telephone calls. Calls are free from a BT land line. Costs may vary from mobiles and other networks.

Alternatively, you can visit www.unbiased.co.uk to find an adviser in your local area

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