Annuities provide pensioners with a steady and reliable income during retirement, ensuring financial security and peace of mind. At Debswana Pension Fund, we understand that retirement is a significant life transition, and choosing the right annuity is key to maintaining your lifestyle and long-term financial well-being.
This section provides an overview of the annuity options available to our members, helping you make informed decisions about how your pension benefits can most effectively support your retirement goals. Review the information provided to understand how annuities work, the choices available, and what to consider when selecting the most appropriate option for your needs.
Type | Key Feature | Risk Addressed |
|---|---|---|
| Life Annuity | Pays an income until death | Longevity risk by ensuring lifetime payments, if CPI-linked or fixed escalation, also addresses inflation risk |
| Life Annuity with Guarantee Period | Pays for life, but with a guaranteed minimum payment period (e.g., 5/10/20 years) | Allows family protection by guaranteeing income/capital benefit, beyond early death |
| Joint life annuity | Continues payment to the surviving spouse after the death of annuitant | Provides for spousal dependency |