Teletext Recovery - 01/12/1999

P261 CEEFAX 2 261 Wed 01 Dec 13:36/07       An annuity prMvides a regular lifetime income from a lump sum investment. There are two types: 1/Compulsory Purchase Annuity (CPA) These are bought from pension funds. Normally pension plans allow you to buy a better annuity from another life firm. This is the Open Market Option. 2/Purchased Life Annuity (PLA) PLAs are bought with your own capital and provide a very high income. 1/8 CPAs: Male 262 CPAs: Female 263 Sport 300 Front Page 100 CPA men YourMoney City News Main Menu

P261 CEEFAX 2 261 Wed 01 Dec 13:32/44       Annuity rates are calculated with 2/8 regard to life expectancy, returns on fixed interest investments and life company expenses. Rates increase with age, and rise or fall depending on the return on the current yields frfm medium dated gilts. Annuities are for life, so there are several opti ns that pr vide pr tecti n frVm early death, such as guarantee periMds and sp use's benefits. Annuities can increase each year as a hedge against inflation. Selection of annuity rates 262-267 Sport 300 Weather 400 Front Page 100 CPA men Y urMMney City News Main Menu

P261 CEEFAX 2 261 Wed 01 Dec 13:43/06       3/8 Single or Joint Life Annuities A single life annuity ceases on the deatd of e nn ita an choos t av th s centinu s o y ie befEre him or her. The sp u s nn ty can t e intents ath, u ual 33 o 5 Guaeante Period Annuitie specifie usu 5 o ears Payments wil be m d h p io , even if he annuitant d es CP Rat Life 264 Sport 300 W at 0 Frnnt Pa 10 CPA men Y urMoney City News Main Menu

P261 CEEFAX 2 261 Wed 01 Dec 13:34/46    W   Frequency of Payment 5/8 Most annuities are quoted monthly. By convention CPAs are quoted in advance and PLAs in arrears. Advance: Payment is made at the beginning of the period. Arrears: At the end of the period. Payments can also be made annually, half yearly or quarterly. Annually in arrears will give the highest payment but quarterly in arrears is the most common alternative tN monthly payments. SpNrts Nevs 300 Weather 400 TV/Radio 600 Front Page 100 CPA men YourMoney City News Main Menu

P261 CEEFAX 2 261 Wed 01 Dec 13:31/07       Taxation 6/8 Compulsory Purchase Annuities are taxed as earned income and are usually paid net of basic rate tax. Purchased Life Annuities. Each payment includes a repayment as part of the original capital, known as the capital content. This is deducted from the gross annuity before applying your tax rate. Thus PLAs have a significant tax advantage because tax is paid only on a small amount of each payment. Annuity Rates pages 262 to 267 Sport 300 Weather 400 Front Page 100 CPA mem YMurMoney City News Main Menu

P261 CEEFAX 2 261 Wed 01 Dec 13:31/27       Impaired Life Annuities 7/8 If y u are in bad healt , you may be able t increase your annuity by applying f r an impaired life annuity. ToN companies, Sun Life and the Pension Annuity Friendly Society, offer bett r Xagas & such as heart pr blems and cancer. Stalwart Assurance offers higher rates fMr smokers, those with diabetes, high bloo pressure and high cholesterol. CPA Annuity Rates: Male 262  Can And 5 y R, msh F ma a 26 CPA Joint Life Rates 264 Purchased Life Annuities 265 BBC CEEFAX FRONT PAGE 100 CPA me YKurMsneC City Ne s Main Memu

P261 CEEFAX 2 261 Wed 01 Dec 13:31/41       The annuity tables on pages 262-5 show the top paying companies for a purchase price of £10,000 and £100,000. Higher purchase prices will give a slightly higher rate. Rates will also be affected by exact age and choice of benefits. There are companies which offer good rates which are only available to specific grVups. These are not quoted. For example, The Royal National Pension Fund for Nurses. 8/8 CPA Annuity Rates: Male 262  CPA Annuity Rates: Female 263  CPA Joint Life Rates 264 Purchased Life Annuities 265 BBC CEEFAX FRONT PAGE 100 CPA men Y urMMney City News Main Menu

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