An annuity is an insurance product that pays a guaranteed income in your retirement. What should you look for?
If you have a pension where the amount you receive when you retire is not linked to your salary, then you have complete freedom with what you do with the money when you retire (as long as you're aged 55 or over). You can buy an annuity if you want to - although you no longer have to do this. This article explains the basics of what an annuity is, how you buy one and what it does.