Retirement:
Retirement annuity policies
Retirement annuity contracts are an old style of individual pension arrangement that commenced prior to the start of Personal Pensions in 1988. These often have generous guaranteed annuity rates attached. However, the death benefits are often just a return of the contributions paid and not the full value of the plan.
The manner in which premiums could be paid was slightly different to Personal Pensions and up until recently it was possible to "carry back" and "carry forward" unused pension tax relief from other tax years. Since A day this is no longer possible.
Where next?
Within Pensions you arrange yourself...
- Overview of pensions
- The state pension
- Pensions provided by your employer
- Your pension questions answered
- Glossary of commonly used terms
- The new rules effective from April 2006
General…
