(n.) A sum of money, payable yearly, to continue for a given number of years, for life, or forever; an annual allowance.
Example Sentences:
(1) The ABI figures revealed that the best annuity for someone who is a heavy smoker and has severely impaired health was at Prudential, which paid out 46% more than the worst, from Friends Life.
(2) Annuities have suffered their worst year on record, with payouts to newly retiring pensioners falling by 15% so far during 2016, according to data provider Moneyfacts.
(3) Only last month the Financial Conduct Authority issued a report in which it said millions of older people were getting a poor deal from Britain's multibillion-pound annuity market, with the biggest losers those with the least money put aside for their retirement.
(4) However, to buy an annual pension income of £1,300 via a traditional annuity that also provided an income for your spouse after you die, you would need a pension pot of roughly £25,000.
(5) Annuity rates so low that a pension pot running into the seven figures is required to deliver any kind of decent pension.
(6) People who prefer to buy an annuity could opt for a "value protected annuity": in return for an extra cost, typically 5% of the income, the policyholder can arrange for any residual money left over when they die to be paid to their beneficiaries.
(7) He adds: "The problem with the chancellor's decision is very simple: all the evidence indicates very few people will opt to buy an annuity under the new rules – and the assumption of 30% taking this route deployed by the Treasury in its costings appears highly optimistic.
(8) The insurers pay an annuity (a guaranteed annual income in retirement) of £839 a year on a savings pot of £18,000, compared to £1,099 at the best payer, Reliance Mutual.
(9) On average, women take out annuities at the age of 59, marginally earlier than men at 62, but both do so significantly sooner than they have to by law.
(10) If the recession results in interest rates remaining low for years, as many in the City are now predicting, then annuity rates will also remain at paltry levels.
(11) Figures from pensions provider Hargreaves Lansdown show annuity rates have plummeted since July 2008.
(12) Table Photograph: asdf In recent years annuity providers have begun offering better payouts to those people they think will die relatively early.
(13) The group sold its US life and annuity business last year for £1.7bn , as well as many other smaller overseas operations, to strengthen its balance sheet.
(14) The Association of British Insurers is believed to be on the verge of approving a new mandatory code of conduct for pension companies that sell pension income – also known as annuities – ensuring people will get the highest possible income in return for their pension pot.
(15) "Annuities may well be broken, but the answer is not to end responsible collective risk-sharing.
(16) By forcing long-term interest rates down and inflation up, QE1 has already increased pension fund liabilities by an estimated £74bn , while driving annuity costs to record levels.
(17) The chancellor said: “For many an annuity is the right product, but for some it makes sense to access their annuity now.
(18) Do not simply accept the annuity offered by your pension provider – shop around for the highest rate possible.
(19) The thinktank also suggests removing the option of taking out 25% of your pension fund as a tax free lump; instead investors would get a 5% top up to their pension pot just before they use the money to buy an annuity.
(20) It will also end the rules requiring compulsory annuitisation (having to buy an annuity with your pension) at 75.
Commute
Definition:
(v. t.) To exchange; to put or substitute something else in place of, as a smaller penalty, obligation, or payment, for a greater, or a single thing for an aggregate; hence, to lessen; to diminish; as, to commute a sentence of death to one of imprisonment for life; to commute tithes; to commute charges for fares.
(v. i.) To obtain or bargain for exemption or substitution; to effect a commutation.
(v. i.) To pay, or arrange to pay, in gross instead of part by part; as, to commute for a year's travel over a route.
Example Sentences:
(1) The lies Trump told this week: from murder rates to climate change Read more “President Obama has commuted the sentences of record numbers of high-level drug traffickers.
(2) In an exceptionally rare turn, the Texas Board of Pardons and Paroles, a panel appointed by the governor that is almost always hardline on executions, recommended that his death sentence be commuted to life in prison because of his mental illness.
(3) Whether out of fear, indifference or a sense of impotence, the general population has learned to turn away, like commuters speeding by on the freeways to the suburbs, unseeingly passing over the squalor.
(4) It also devalues the courage of real whistleblowers who have used proper channels to hold our government accountable.” McCain added: “It is a sad, yet perhaps fitting commentary on President Obama’s failed national security policies that he would commute the sentence of an individual that endangered the lives of American troops, diplomats, and intelligence sources by leaking hundreds of thousands of sensitive government documents to WikiLeaks, a virulently anti-American organisation that was a tool of Russia’s recent interference in our elections.” WikiLeaks last year published emails hacked from the accounts of the Democratic National Committee and John Podesta, chairman of Hillary Clinton’s election campaign.
(5) The surface mount electronic internal controller provides motor commutator, energy management, telemetry, and physiologic control functions.
(6) The pair woke up early and gathered their birth certificates, social security cards and passports before making the roughly three-hour commute.
(7) But Clegg also says he is not going to be cowed into taking Cameron's vow of silence about Farage's assertion that he finds Britain unrecognisable and is uncomfortable at the lack of English spoken on commuter trains out of Charing Cross.
(8) Well, news from the commuters and the rail users is that we don't like it, and we want a cheaper more equitable service.
(9) Two weeks after the July 7 suicide bomb attacks that killed 52 London commuters and injured more then 750, Shahid, a young Londoner who had just completed his fourth year at medical school, flew to Pakistan .
(10) Stephen Joseph, its chief executive said: "This is bitter news for everyone who relies on the train to get to work, not least the large number of commuters in marginal constituencies who will be a key group at the next election."
(11) Concluding an inquiry into the experience of rail passengers that became dominated by the events at Southern , the transport select committee said commuters had been badly let down.
(12) When you factor in commuting costs, it's not surprising many families decide it doesn't make sense financially for both parents to work.
(13) If you are a London commuter dreading tube strike chaos this evening and tomorrow there is an alternative to fighting your way on to overcrowded buses or a long walk.
(14) Prenatal care is provided in rural areas by health care people that commute from the cities.
(15) Sir Stephen Richards, 59, was arrested by detectives investigating an alleged sexual assault on a commuter service between London Waterloo and Wimbledon in south-west London.
(16) Another described First Great Western as " the worst commuter line I've ever had to endure ": "Not only is it the most expensive train line in Europe, it was never on time.
(17) Mahaneela Choudhury-Reid, a Londoner of colour, clashed with a smartly dressed commuter during what should have been the mid-morning quiet.
(18) Transport for London stepped in with a £750m pledge to prevent meltdown in the public-private partnership for the underground yesterday, as the capital's mayor warned of a "difficult period" for commuters after the tube's biggest maintenance firm entered administration.
(19) Potential London escapees will probably be put off by the cost of commuting, as an annual season ticket costs about £5,000, and the knowledge that state schools in London are better, on the whole, although Oxford has a stellar independent sector thanks to the likes of Oxford High School for Girls and Magdalen College School .
(20) The commutations are meant to combat the strict mandatory minimum sentences for drug crimes – symbolically, at least – an area where Republicans and Democrats both support reform .