Saturday 22nd October 2016                 Change text size:

Investment term of the day: Annuity

dictionary By doctor-a via stock.xchng

An annuity is a financial contract, which provides an income stream in return for an initial payment with specific parameters. There are different types of annuities including variable, deferred and fixed.

Annuities are often used at retirement to convert pension savings into a regular income that will last for the rest of the individual’s life.

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