i2Live Annuity

Senior couple walking through a field representing i2Live Annuity

i2Live Annuity

Stay flexible

With i2Live Annuity, you can enjoy a flexible income while remaining in control of where your funds are invested.

Unlike a fixed rate annuity, you are able to vary the amount of income you take, within limits, each year – to meet your changing income needs through retirement. You can also choose to secure a guaranteed minimum income for life through the Income Guarantee Option at any time from the age of 60.

If you wish, your plan can provide an income for your dependants when you die, through the joint life or dependants’ guarantee period options.

Please note that i2Live Annuity invests in unit-linked funds, which means their value can go down as well as up and is not guaranteed. We only accept applications for our i2Live retirement solutions through financial advisers. You should discuss your options with your financial adviser and read the i2Live Annuity Key Features document carefully before making any decisions.


  • Minimum age of 55 years.
  • No maximum age at the start of the contract.

Minimum investments

  • Initial investment: minimum of £50,000. It may not be suitable for those with smaller pension funds with no other assets or other sources of income.
  • Subsequent investment: minimum of £5,000 with the Income Guarantee Option, minimum of £250 without the Income Guarantee Option.

i2Live Annuity

Please note that this case study is an example only and is not based on real individual scenarios. It demonstrates how it may meet your current and changing needs but is not appropriate for all circumstances. We do not offer any financial advice so before making any decisions about i2Live Annuity please consult with your financial adviser.

Case Study – Jim Green

About Jim

Jim Green is 70, single, without any close family and about to retire. Over the years, he’s built up some pension funds but now wants an income to enjoy in his retirement. He likes the flexibility of i2Live but needs to be sure he has enough income – at least £15,000 p.a. – for his living expenses.

Jim’s chosen solution

Following discussions with his financial adviser:

  • Jim decides to move his pension funds to i2Live Annuity and then select the Income Guarantee Option to ensure he receives a minimum of £15,000 a year.
  • To ensure he receives at least £15,000 a year, his i2Live Annuity illustration shows that 60% of his pension fund must go towards providing the Income Guarantee Option. As long as Jim sticks to the conditions of the Income Guarantee Option, he will receive the minimum £15,000 he needs each year, regardless of how investments perform.
  • Up to 60% of Jim’s pension fund can be invested in equity-based stocks and shares for the purposes of the Income Guarantee Option.
  • Jim can invest the remaining 40% of the non-guaranteed funds in the full i2Live fund range without any restriction.
  • This solution ensures Jim will receive at least £15,000 a year for life.

Built-in flexibility

  • Jim can draw on the non-guaranteed funds to take an additional regular income and one-off payments (subject to annual limits).
  • This can provide extra money for things like holidays.
  • If Jim doesn’t need his income guarantee any more, he can remove it at any time.

i2Live Annuity

Customer insight

i2Live Annuity allows you to take a flexible income within limits. The maximum available is around 20% more than from a traditional conventional annuity. The minimum available is around 50% less. Income anywhere between these limits may be taken and revised at any time. Your financial adviser will be able to tell you what your income limits are according to your individual circumstances. Your financial adviser can also work out what income level is sustainable for you over the long term.

Alice, 75

“My financial adviser showed me a way to avoid locking into a fixed income after age 75. Under i2Live Annuity I can continue to adapt my income to my needs. My adviser keeps an eye on my fund and investment growth and lets me know what a sustainable income level is during every 12 month review.”

Gerald, 69

“When I discussed my annuity choice with my financial adviser, it came down to a choice of having a fixed or a flexible income. In the end it was a simple decision. With i2Live Annuity, I’m planning on taking less income this year but raising income to the maximum allowed next year to pay for a trip overseas. In subsequent years I plan on returning my income to the sustainable level.”

A smart feature of i2Live Annuity is the option allowing you to guarantee a level of income security. It is ideal if you are concerned about market volatility and the effect this might have on your retirement income in the future. Should your investments perform poorly then a level of income is guaranteed (provided you have selected this option), meaning that you always know the minimum amount of income you will receive. Information about the guarantee can be found in the i2Live Annuity Key Features and your financial adviser will be able to explain the benefits in more detail.

Ted, 68

“I was looking for income security in retirement as I wanted to make sure I could always meet my basic future outgoings. Initially I was interested in a traditional annuity until my financial adviser showed me how the guarantee worked under i2Live Annuity. Having chosen it, I have guaranteed a minimum level of income at a cost I regard as very reasonable.”

The quotes are examples only and not based on real individual scenarios.

We do not provide advice on pension products, but aim to give customers helpful information to enable them to make informed decisions. We can also help customers who require advice find a financial adviser in their local area.

i2Live Annuity


  • How do I invest in i2Live Annuity? More >>

  • When can I take my benefits? More >>

  • How much income can I take? More >>

  • What is the Income Guarantee Option? More >>

  • How do I ensure my income never falls below a certain amount? More >>