Standard Annuity

Products and availability vary by state and are solely the responsibility of the applicable insurance company.

Standard annuity. The Standard is a marketing name for Standard Insurance Company Portland Oregon licensed in all states except New York and The Standard Life Insurance Company of New York White Plains New York licensed only in New York. This standard annuity amount will be actuarially reduced when a member elects to receive a PLSO distribution To determine the reduced monthly annuity payment see Step 7. An annuity in very simple terms is basically a contract between two parties wherein one party pays the lump sum amount at the start or series of payment initially and in return will get the period payment from the other party.

The standard annuity option stops when you pass away. Whether your goal is to save for the future or to ensure your money lasts the rest of your life we offer an annuity that can help meet your needs. What is the Annuity Formula.

If poor health is expected to reduce your life span then you might qualify for an enhanced annuity which will pay you a much higher income than a standard annuity could offer. All types of lives shall be covered including Male Female and transgender. The amount of money in your pension pot.

Maximum 80 Years last birthday. Saral Pension Eligibility. This standard annuity is the automatic option for married participants unless your legal spouse provides written consent to elect an optional form of payment.

In place product standards that will help to mitigate the risk of living annuities being exhausted during the lifetime of the annuitant but without the member office providing advice other than through its normal advice channels 4. Annuity Formula Table of Contents Formula. You can buy an annuity with the money you have saved in your pension which will give you a guaranteed income for life.

The standard annuity option is the highest monthly payment available to you for your retirement payments. Standard annuity for purposes of calculating PLSO distributions. It allows the client to select an income level that ranges between a pre-defined minimum and maximum level.