Risk factors

Annuities are complex products and it is always advisable to seek financial advice about your options before purchasing one. Also bear in mind that:

• Annuity rates change all the time, so any quotes you get are likely to only be valid for a short period.
• Once you have bought your annuity you cannot cash it in or switch it to another provider.
• Your circumstances might change after you take your benefits. For example if you get married or enter into a civil partnership after you buy your annuity, you cannot add a spouse’s or civil partner’s pension option.
• The total payment which we make could amount to less than the sum used to purchase the annuity.
  

The Financial Services Authority (FSA) is the regulator for the insurance industry. Its website contains FSA comparative tables which you can use to compare annuity rates offered by different annuity providers.

If you have an Independent Financial Adviser (IFA), you should contact them to discuss your needs. If you don't have an adviser and want to get in touch with one local to you, then go to Get advice.