Pensions Glossary

Annuities
Annuities are regular incomes paid to recipients (annuitants) for life or shorter periods in exchange for a lump sum. Annuities are often used as pensions and can be classified into two type in the UK: Compulsory Purchase Annuities which are taxable as earned income and are bought from the proceeds of a pension, and Purchased Life Annuities which are taxed at a lower rate and are bought using the recipients’ own capital.

Find out more about Annuities

Compare best annuity rates now apply arrows

The information within the BeatThatQuote.com website has been approved by a person and firm regulated by the Financial Services Authority. BeatThatQuote.com is an appointed representative firm of Best Value Financial Services Ltd which is authorised and regulated by the FSA.