Single Premium Immediate annuity
Single Premium Immediate Annuity
An annuity/pension is an after-retirement income specially designed to guarantee a retiree, a secure income for life by ensuring the retiree does not outlive his/her investments. At retirement, a single premium is paid from the accumulated retirement savings to guarantee a lifetime stream of payments.
Benefits
- Takes care of the longevity risk by guaranteed stream of income for life
- Financial security and independence after retirement
- Takes over the investment risk (no worries on market movements)