Under the new contributory pension scheme governed by the pension Reform act 2004, a potential retiree, while in active service, is expected to know what his retirement options are. Unfortunately, most retires are usually ignorant about how to make the best choice out of the two retirement options available for drawing their pension benefits.

Under the Pension Reformed Act 2004, retiree is expected to have sufficient knowledge on the options that are available to choose from:

This option provides regular payment by an insurance company to the Pensioner or Annuitant until he or she dies.


  • Guaranteed life-time income payments are made to you as long as you are alive
  • Your money is protected from creditors.
  • There is no limit to the amount you can put into an annuity, you therefore have tax-free investment of your funds.
  • There is a ten years guarantee period for the Annuitant.