Annuity based on one life or two
A single life annuity pays the most income, but stops when you die.
If you are married it is usual to have a joint life annuity which continues
to your partner if you die first. You can choose how much income your partner
will receive after you have died. For example a 50% joint life annuity means
that when you die your partner will recede 50% of your pension until they
die.
Comparing options
£ 100,000 purchase, male aged 65, female aged 65, level payments.
For male joint life, male 65 female 60, for female joint life, female 65 male 70
