Understanding Annuities

Everything you need to know about annuities when creating a retirement income

In our latest guide, we explore the world of annuities, to help you understand how they work as an option for drawing an income in retirement.

Getting started with annuities

We'll look at purchasing annuities and the latest annuity rates before comparing different types of annuities including level annuities versus inflation-linked annuities and single life annuities versus joint annuities.

Benefits and drawbacks of annuities

Annuities can be attractive as a retirement income for several reasons but they aren't for everyone. We explore the key benefits and disadvantages of using annuities as a source of income in retirement including:


  • long term financial security
  • inflation linked income
  • financial security for your partner
  • protection from market volatility


  • lack of flexibility
  • limitations on growing your wealth
  • potentially high purchase fees
  • inability to switch providers or reverse your decision

Should you consider annuities?

Finally, we look at four key questions you should answer if you decide to purchase an annuity. Of course, your Chester Rose financial planner is also here to help guide you through your decision and find the best solution for providing you with a retirement income.

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