Steady Rate Income Annuity

Level Income Annuity












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  Welcome to The Complete Pension Guide 2017!


For – setting up a new pension, reviewing your pension, approaching retirement, looking into auto enrolment, and buying your annuity or entering income drawdown

Annuities: Immediate Vesting Personal Pension Plan (IVPPP) – Compulsory Purchase Annuity (CPA) – Purchased Life Annuity (PLA)

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Level Income Annuity

Steady Rate AnnuityThis effectively means your income will never change for as long as the annuity is valid. It is up to you whether you want a lifelong policy or a fixed term between 2 and 20 years. This is seen as a safe option because although it does not rise, the rate of income can also never drop. One major problem with this is the fact that you may struggle to make ends meet if the cost of living increases dramatically which is extremely likely.

If you choose a steady rate income, your starting level of income will be much higher than the two options below but they will catch up as the years go by.