Annuity Plan: Overview

This Plan gives an individual the option of buying an immediate or deferred income stream. The Plan is available in a choice of six familiar currencies.

Payments from the Annuity Plan are tailored to meet agreed requirements. There are a number of options to consider. Payments may, for example, continue whilst an individual is alive, cease after a fixed period, reduce after death with payments continuing to a spouse or designated beneficiary. Other payment options are also available.

In addition, there are a number of payment increase options.  The level of annual increases can be chosen from the following range:

• a fixed increase of between 0% to 3%; or
• our discretionary bonus increase, which targets consumer price inflation but does not guarantee it (the increase could be higher or lower and can be 0%).