How much income will I be paid?

The amount of income you’ll be offered will largely depend on the following factors:

• the size of your pension fund
• annuity rates and market conditions when you buy
• your age and postcode (if provided)
• the annuity options you choose including your choice of anticipated bonus rate (ABR)
• bonus rates will affect your future income.

When buying a With Profits Annuity you will need to choose an ABR from between 0% and 4%.

The lower the ABR you choose, the lower your starting level of income but there will be a greater likelihood of future increases. This is because the bonuses we declare are more 
likely to exceed your chosen ABR in any given year.

The higher the ABR you choose, the higher your starting level of income but the less likely 
our bonuses are to exceed your chosen ABR. Your income is more likely to fall as a result.

Your pension income will be subject to income tax and will depend on your individual circumstances. We don't currently offer enhanced rates on our With Profits Annuity.

If you're interested in our With Profits Annuity, you'll need to speak to a financial adviser before buying one.