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261/4 CEEFAX1 Thu 2 Feb CEEFAX.TV
ANNUITIES - EXPLANATORY NOTES 4/10
ESCALATION: An annuity that increases
each year but starts lower than the
level income annuity. Escalation helps
protect your pension against the
effects of inflation.
GUARANTEES: An annuity is paid for your
life but you can buy a guarantee that
it will pay for up to 10 years even if
you die earlier.
VALUE PROTECTION: If you die before 75
your estate receives your annuity fund
less any payments already paid to you -
but this is subject to tax.
Source: Annuity Direct
Headlines 200 Your Money 250

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