Find out more about the retirement income you can rely on for life.Download the Annuities guide (PDF)
Most annuities provide you with a lifelong, regular income that is guaranteed to last as long as you live. A quarter (25%) of your pension pot can usually be taken tax-free before you buy the annuity and any other payments will be taxed as earnings.
The value of investments can go down as well as up, so you may get back less than you invest. This information is not a personal recommendation for any particular product, service or course of action.
There are many different types of annuities, so it’s a good idea to shop around to find the best deal. You will also have to consider what type of annuity is best for you.
It is important that you shop around to find the best deal for you, as you would with any other purchase. Your pension provider may not offer the option you want or other providers may be able to offer you a better deal, so it is worth comparing what each provider can offer.
Use our portal to help you choose your annuity options and shop around for the best guaranteed income for life.
Talk to someone about your retirement options in more detail
Close to retirement but unsure about the options and pitfalls ahead? We can offer guidance and advice to help you find the best solution for your retirement. Call us on 0800 368 6882, Monday to Friday, 9am - 5pm.Fidelity’s retirement service
The Government offers free, impartial guidance to help you understand your options at retirement. This is available via the web, telephone or face-to-face through the Pension Wise service which is now part of MoneyHelper. Find out more by going to moneyhelper.org.uk or call them on 0800 138 3944.www.moneyhelper.org.uk
Pension and retirement planning can be complex, so if you are unsure about the suitability of a pension investment, retirement service or any action you need to take, please refer to an authorised financial adviser.
The minimum age you can normally access your pension savings is currently 55, and is due to rise to 57 on 6 April 2028, unless you have a lower protected pension age.