Reliance Mutual believes in focusing on our strengths. Reliance is one of the leading providers of specialist annuities and since 2001 has provided an annuity especially designed for smokers.
WHAT IS A PENSION ANNUITY?
A pension annuity is simply a way to convert your pension fund into income for the rest of your life. You have the choice of taking any tax free cash you are entitled to before the annuity is set up.
At any point in time an older person will receive a greater income than a younger person for each £1000 converted. The general level of annuity rates fluctuates from time to time.
The income payment is determined at outset and guaranteed throughout your lifetime. The annuity can be for a level amount or it may increase each year e.g. by 5%. Your income will be paid regularly direct into your bank account.
Reliance Mutual provides the following products to the Life and Pensions market:
- Enhanced annuity for smokers
- Non-smoker annuities to existing members and policyholders
- Unit Trusts
- Policies to existing members where policy conditions offer it
- Top-up pensions to existing members
- Credit Life Insurance through finance houses
Converting your pension fund into an income for life is one of the most important decisions you will take in your life. We therefore recommend that you consult an adviser who will advise you on the best option for you. Advisers have access to application forms for the enhanced annuity for smokers on this website. For all other applications please contact our New Business department via the contacts page.