Buying an annuity with some or all of your pension pot is a good way to ensure that you have a guaranteed annual income during your retirement.  The annuity rate that you get will depend on a number of factors, including your health and the age at which you start drawing down your annuity. You can choose to buy the annuity for a specified number of years (a temporary annuity), or for the rest of your life (a lifetime annuity).

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