Buying A Pension Annuity File

: Offers higher income if you have certain medical conditions or lifestyle factors (e.g., smoking) that may shorten life expectancy.

: You pay a lump sum from your "defined contribution" pension to an insurance company. buying a pension annuity

: In return, the insurer provides regular payments that act like a salary during retirement. : Offers higher income if you have certain

: Provides a guaranteed income for the remainder of your life, no matter how long you live. no matter how long you live.