Annuity

This refers to a regular payment to a person, typically continuing until their death.

An Annuity may be for a fixed or variable sum and may also be payable to two people, in which case it will continue until the death of the second person. In pension planning it relates to a financial product that allows you to convert your pension savings into a regular income that will last you for the rest of your life.

Annuity is a term normally found in economics and financial management; explore our learning resources to discover more. Explore our learning zone to discover more