Click here for our guide to investment funds.
During your working life, you save into a pension pot. At retirement, you can then use this pot to purchase an insurance policy called an annuity, which pays regular monthly or yearly income. Annuities used to be mandatory, but the government introduced pension freedom in 2015, allowing investors to choose how to manage their income. Annuities are one of the many tools available to investors. Click here for more info on pensions.