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Invested Lifetime Annuity

Invested Lifetime Annuity - this product provides a retirement income which will increase over time.

This annuity is only available to existing policyholders.

This is a with-profits lifetime annuity and is invested in the Windsor Life With Profits Fund. It is unique to Windsor Life policyholders and is not available to anyone that hasn't saved for their pension with us.

The pension has guarantees built-in to make sure that your income will never fall. We will declare a bonus each year, even if that bonus is zero. Any increase in your annuity will be based on the bonus declarations, which in turn are based on the profits made by the Windsor Life With Profits Fund.

You may get additional bonuses by a contribution from the Estate, although these are not guaranteed and depends how the Windsor Life With Profits Fund changes in the future. The Estate is the excess, if any, of the value of assets in the Windsor Life With Profits Fund over the value of assets needed to support the current and expected future liabilities of the Windsor Life With Profits Fund.

You can find out more about the Windsor Life With Profits Fund by reading our Consumer Friendly PPFM document, or our Principle & Practices of Financial Management document. Information on how the Fund is invested is available by clicking here.

Choosing an Invested Lifetime Annuity will depend on your attitude to risk and your personal circumstances.

Why choose the Invested Lifetime Annuity?

  • It allows your pension fund to invest in the Windsor Life With Profits Fund.
  • It is designed to increase over time (although the minimum bonus rate is zero).
  • Your payment will never fall.
  • It gives some protection against inflation eating away at your income.
  • The current rate of bonuses for an Invested Lifetime Annuity is 3%.
  • Invested Lifetime Annuity policyholders can share in any future distributions from the Estate.

Why choose not to have an Invested Lifetime Annuity?

  • It may be several years before the Invested Lifetime Annuity pays out more than the Level Lifetime Annuity. You should bear this in mind if you are in poor health.
  • Increases are not guaranteed. They will depend on declared bonuses based on the performance of the Windsor Life With Profits Fund.

This is not a full description of this product’s benefits and risks. To learn more about this product:
Adobe Acrobat Download our Key Features Document (112Kb)
Adobe Acrobat Download the Policy Provisions (80Kb)

If you are interested in this annuity we will send you a personalised illustration. To request an individual illustration, please contact us on 0800 073 1777.

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