What’s the difference between an annuity and a pension?

Annuities are a way of using your pension to give you an income in retirement. They pay you a regular guaranteed amount for the rest of your life - and you can buy one using the money from your pension. A pension is simply the account you pay money into for retirement - that's then invested in the stock market.

Explore more frequently asked questions

Whether you want to change your details, make a claim or understand more about our products, you can find answers to FAQs by category.

FAQ search tool

Not found the answer you need yet? If you have a particular question, try our FAQ search tool.