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ANNUITIES - EXPLANATORY NOTES 8/10
ALTERNATIVES TO ANNUITY: By law you no
longer have to purchase an annuity. If
you retire earlier than 75 you can draw
an income from your pension through an
Unsecured Pension rather than a
Lifetime Annuity. When you start to
take income you must take your tax-free
Over 75 the alternative to Lifetime
Annuity is Alternative Secured Pension.
Unsecured Pension and Alternative
Secured Pension are mostly suitable for
individuals with larger pension funds.
Source: Annuity Direct
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