The Guaranteed Pension Annuity from Hodge is designed with simplicity in mind. With competitive rates, it enables your clients to make the most of their money in retirement.

Guaranteed Pension Annuity

Our Guaranteed Pension Annuity pays your client a regular income they can rely on for life, giving them peace of mind to help them look forward to retirement.

Options could include: 

  • A choice of monthly, quarterly, half yearly or yearly payment frequencies; in advance or in arrears 
  • Guarantee payment periods of either 5 or 10 years
  • Option to add dependents income of either half, two thirds or full income levels 

Hodge offers standard annuity rates only. If you client is in ill-health, smokes or is overweight, they may be able to secure a higher level of income by purchasing an enhanced or impaired annuity from another provider. 



The Guaranteed Pension Annuity is suitable for clients who: 

  • Are aged between 55 and 85 
  • Have pension savings that they want to crystallise equal to at least £10,000 after deduction of any tax-free cash 
  • Want a guaranteed income for life 
  • May wish that their spouse or dependant receive an income after their death 
  • Are a UK resident (excluding Channel Islands and Isle of Man) at time of making an application 

The Guaranteed Pension Annuity is not suitable for clients who: 

  • Have less than £10,000 to invest after taking their tax-free cash 
  • Require a guaranteed income from non-pension savings 
  • Want to make regular or one-off contributions 
  • Want to withdraw amounts from their pension pot as and when they choose 
  • Want flexibility to change any of the options initially chosen 

There are risks to your client, which are: 

  • The policy has no cash in value at any time. If your client dies in the early years of the policy, unless they have chosen a dependant’s annuity and/or a guaranteed payment period they will get back much less than what they paid for their annuity 
  • The income from the annuity will not go up, so inflation or any increases in income tax in future years will reduce the buying power of the annuity 
  • The health of your client or their dependant(s) is not taken into account when setting the annuity rate. If your client or the dependant smoke or have a medical or health problem they may be eligible for more income from another provider
  • Your client’s pension funds could reduce in value before Hodge receives them. If they go up, your client may get a higher income. If they go down, your client may get less 
  • Once the annuity has been purchased and the cancellation period has ended, even if your client’s circumstances change, they will no longer have access to the funds paid to Hodge. This means your client won’t be able to: 
    • Cash it in or get a refund 
    • Pay it back into their original pension plan or scheme 
    • Switch to a different annuity provider 
    • Alter or remove any of their chosen annuity options