This is a person who receives, or is entitled to, an annuity.
This is a fixed amount of money paid each year until a particular event (such as a death). It might be split into more than one payment, for example monthly payments.
This compares the size of an annuity (how much it pays each year) with how much it cost to buy. It also takes into account the age of the annuitant.
This is the period when you pay premiums to accumulate funds for retirement.
This is an annuity which will start to pay out at some time in the future.
A person who is financially dependent on a member or pensioner, or was so at the time of death or retirement of the member or pensioner.
An annuity which commences immediately, or shortly after, it is purchased.
The naming by a member of a person or persons to whom he or she wishes any death benefit to be paid.
These plans give a share of the insurer’s profit to policy holders. This share is not fixed and depends on the financial performance of the company.
An arrangement, other than accident insurance, to provide pension and/or other benefits for members on leaving service or retirement and for the member’s dependants in the event of death.
The amount that the nominee receives in the event of death of the insured during the accumulation period.
Charges levied by the insurer if you end the policy before the date of vesting.
The age at which you choose to start receiving pension.