Pension annuity
25 June 2012 Reading: 2 min Views: 6 212
What could be better than receiving part, or most, of your pension savings now.
Pension Annuity
What could be better than receiving part, even the larger part, of your pension savings now?
Many people are put off by the pension annuity, while others have long been enjoying the benefits of this legislative innovation.
Advantages of a pension annuity
1. You receive 50% - 60% of your pension savings right now.
2. Your money is not eaten up by inflation.
3. You are guaranteed a pension from two sources: the pension fund and the annuity company.
4. In the event of death, the remaining amount goes to the heirs.
Disadvantages
1. One more financial contract.
2.Designation of an heir
3.The option to take the annual payment 1-20 years in advance
4.Payments start as early as age 55 (compared with the pension system — from 58 for women and from 63 for men)
5.Covering current needs (repaying loans, travel, buying real estate, etc.)
Read more about the pension annuity
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