What is the best annuity to buy at AVIVA,UK

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If you’re not sure which type of annuity to choose at AVIVA, have a look at the table below. It compares the various options that are available with Aviva’s annuity plans to help you work out which one is best for your own personal circumstances.

Helping you choose your annuity

Find out more about the different types of annuities offered by Aviva.

Source of Money Pension Annuity With Profits Pension Annuity Immediate life Annuity
Your pension fund
Cash lump sum
Minimum purchase amount (after any tax free cash has been taken and any adviser charge has been paid) £10,000 £20,000 £7,500
What options are available? Pension Annuity With Profits Pension Annuity Immediate life Annuity
Level income
Yearly increase by a fixed percentage
Yearly increase in line with increases in the Retail Prices Index
Dependant’s Pension
Guaranteed Period
How is it taxed? Your pension income will be treated as earned income and taxed according to your personal circumstances. Your pension income will be treated as earned income and taxed according to your personal circumstances. Your payments are normally split into two parts:

  • A ‘capital part’ – which is tax-free if the tax office agrees.
  • An interest part which may be taxed at the basic rate depending on your personal circumstances.
How frequently is it paid? Pension Annuity With Profits Pension Annuity Immediate life Annuity
Monthly
Quarterly
Half-Yearly
Yearly
Charges and flexibility Pension Annuity With Profits Pension Annuity Immediate life Annuity
What are the product and investment charges? Charges are taken into account when we work out the price of the retirement income. Charges are taken into account when we work out the initial retirement income and when we decide the bonuses to add to your pension each year. Charges are taken into account when we work out the retirement income.
What is an adviser charge? The payment you have agreed to pay to your Financial Adviser for the initial advice and services they have provided to you. The payment you have agreed to pay to your Financial Adviser for the initial advice and services they have provided to you. The payment you have agreed to pay to your Financial Adviser for the initial advice and services they have provided to you.
How flexible is it? The options you choose at the start of your plan cannot be changed and once you have bought your annuity it has no cash in value at any time. At any time after the first year you can:

  • Change your Anticipated Bonus Rate within our limits at the time.
  • Convert your plan to an ordinary Pension Annuity.

In both cases we’ll recalculate your pension income

The other options you choose at the start of your plan cannot be changed and once you have bought your annuity it has no cash in value at any time.

The options you choose at the start of your plan cannot be changed and once you have bought your annuity it has no cash in value at any time.

 

After looking at the comparison, you will be able to make a  good decision over the options.

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