More on with profit annuities
We set out the advantages and disadvantages in the earlier section. Here we are more concerned with:
In general, an investment-linked annuity offers an income for life, but also the chance of income growth. Where the investment-linked annuity is linked to a with profits fund you get smoothed returns, in the sense that the value of your fund and your income don’t go up and down each day with the stock market. Rather your income is adjusted, typically each year, in line with the bonus declaration of your annuity provider. But it can be adjusted down as well as up, though the extent to which this can happen, if at all, does vary from one provider to another.
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