One strategy is to consider the minimum amount of income you require on an annual basis and then see if there's a low-cost annuity that promises to pay at least that amount for life.

一个策略是，想想你每年所需的最低收入是多少，然后看看有没有低成本的年金，可以承诺终生支付至少这个数目。

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The rest can usually either be used to buy an annuity (an income for life that will depend on your age, the value of your pension fund, and annuity rates payable at the time) or to provide an income via what is known as 'drawdown'.

BBC: Fergus Muirhead

When you get to retirement age you can either purchase an annuity (i.e. an income for life) or use the value of your fund to provide an income within certain limits.

BBC: purse and cash

New York Life Insurance Co. in July rolled out an annuity providing a guaranteed income stream that increases if recipients wait longer to claim it.

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