(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.
Payable
Definition:
(a.) That may, can, or should be paid; suitable to be paid; justly due.
(a.) That may be discharged or settled by delivery of value.
(a.) Matured; now due.
Example Sentences:
(1) Belinda Lester, from the employment law firm CKFT, agreed: "If they have a bad year, it's very difficult to cut back salaries"; the second big plus from the bank's point of view is "if a significant part of your remuneration is a bonus, these contracts will make it very clear that bonus is only payable if you're not leaving.
(2) Other measures to protect the money in people's pockets in Osborne's budget include: • Raising the income tax personal allowance by £630 next year, which comes on top of the £1,000 rise next month and lifting the threshold at which income tax is payable to just over £8,105 from April next year, a real terms increase of £48 a year (or £126 in cash terms) for those earning up to £115,000 a year.
(3) To protect those on modest incomes, I have also decided to raise the starting point from which national insurance is payable.
(4) The bank added: "The FSA is investigating the sufficiency of disclosure in relation to fees payable under certain commercial agreements and whether these may have related to Barclays capital raisings in June and November 2008."
(5) The case, which has already been to the court of appeal, will return to the county court to assess damages payable.
(6) Overnight, banking debt in six Irish banks (including the four bailed out on Thursday) was converted into state debt, payable by tax-payers.
(7) West Ham United Accounts of WH Holding Ltd for the year to 31 May 2015 • Ownership David Sullivan 51.1%; David Gold 35.1%; CB Holding ehf 10% • Turnover 9th highest in League £121m , up from £115m in 2014 • Income Match income and football related £20m; Commercial £15m; Premier League & broadcasting £79m; Retail & merchandising £7m • Wage bill Joint 12th highest in League £73m , up from £64m in 2014 • Wages as proportion of turnover 60% • Profit before tax £3m , following £10m profit in 2014 • Net debt £67m • Interest payable £6m • Highest-paid director Unnamed, £646,000 (Karren Brady is the executive vice-chairman) State they are in: The figures for West Ham’s occupation of the £701m, 60,000-seat Olympic stadium , disclosed after dogged persistence by Freedom of Information campaigners supporting other clubs, have confirmed it as the greatest public money bonanza ever bestowed on a football club.
(8) Various Voices: Prose, Poetry and Politics 1948-98 is published by Faber (£9.99).To order it at the special price of £7.99 plus 99p p&p, freephone 0500 600 102 or send a cheque payable to The Guardian CultureShop to 250 Western Avenue, London, W3 6EE.
(9) "Many retail jobs required staff to work for 16 hours each week, with overtime payable for any hours worked beyond that.
(10) Once you have coughed up, your higher pension amount will be payable from that date.
(11) There was some protection for those on low incomes, however, as Darling raised the starting point from which national insurance is payable.
(12) His representative refused to comment on Wednesday night when contacted by the Guardian but it is understood the Spaniard is genuinely interested in the job and seems prepared to agree a 10-game deal featuring a generous basic salary plus a hefty financial bonus payable only if Newcastle avoid dropping into the Championship.
(13) Hughes said: "It was his explicit case that he believed he was entitled to say that he had stayed the night in London when he hadn't, and incurred costs in travel when he hadn't, in order to recoup the shortfall of rent that was not payable under the expenses system, and research assistant costs which were likewise not payable.
(14) SWANSEA CITY Accounts for the year to 31 May 2014 Ownership Martin Morgan, 23.7%; Brian Katzen, 21.1%; Swansea City Supporters Society Limited (supporters trust) 21.1%; chairman Huw Jenkins 13.2%; Robert Davies 10.5% Turnover 13th highest, £99m (up from £67m in 2013) Match income £9m Media £81m Commercial and other £9m Wage bill Joint 14th highest, £63m (up from £49m in 2013) Wages as proportion of turnover 64% Profit before tax £1m (down from £21m in 2013) Net debt Nil; £2m cash in the bank Interest payable £0.015m Highest-paid director Huw Jenkins, £550,000 State they’re in The Swans’ epic paddle from bottom division and insolvency to Premier League and new stadium owned by a consortium of fan-businessmen, including 20% held by the supporters trust, was committed to documentary with A Jack to a King.
(15) It added: “The FCA also believes that enforcement action alone is not sufficient to protect consumers from the poor practices identified in the market.” The rules will ban credit brokers from charging fees to customers, and from requesting customers’ bank details unless they comply with new requirements making it clear who they are dealing with, what fee will be payable, and when and how the fee will be payable.
(16) Turnover Crystal Palace Accounts of CPFC 2010 Ltd for the year to 30 June 2015 • Ownership Steve Parish and US investors David Blitzer and Joshua Harris control the holding company; individual stakes not disclosed • Turnover 14th highest in League £102m , up from £90m in 2014 • Income Gate and match-day income £10m; Broadcasting & FA and PL income £80m; Sponsorship & advertising £4m; Commercial £5m; Other income £4m • Wage bill 15th highest in League £68m , up from £46m in 2014 • Wages as proportion of turnover 67% • Profit before tax £8m , following £23m profit in 2014 • Net debt £0 (£18m cash in bank) • Interest payable £0 • Highest-paid director No directors were paid State they are in: Palace finished 10th in 2014-15, maintaining their bounce under the shrewd stewardship of Steve Parish and his three fellow investors, all lifelong fans, who bought the club out of administration in 2010.
(17) Sometimes a lender will offer a range of deals with different fees and different interest rates, with the largest fees payable on the mortgages with the lowest rates.
(18) The email included a copy of the guest invitation, which also gave people the opportunity to make donations of other amounts, payable to the Liberal party’s New South Wales division, and said that “all proceeds from this event will be applied to state election campaigning”.
(19) Accounts Payable reports are interfaced with the general ledger and are of interest for transaction detail, open invoice and cash flow analysis, and for a record of payments by vendor.
(20) Turnover 9th highest, £117m (up from £84m in 2013) Gate and matchday £13m TV and broadcasting £73m Commercial £22m Sponsorship £9m Wage bill Joint 9th highest, £69m (down from £72m) Wages as proportion of turnover 59% Loss before tax £4m (following £52m loss in 2013) Net debt £102m Interest payable £1m Highest-paid director £265,792 to unnamed director (Paul Faulkner was the chief executive throughout the year; he resigned in July 2014.)