Buying an annuity sees you using your pension savings to buy a guaranteed income to last for the rest of your life.

Despite their poor reputation, annuities could still be the right option, especially if you don't feel comfortable with the investment risk of income drawdown.

And the government has changed the rules so that new types of annuities can share some of the flexibilities of income drawdown, such as being able to pass on your funds when you die or varying the amount of income you can take.

You can also use part of your pension savings to buy an annuity, while leaving the rest in income drawdown.

For more information please contact Southern Financial Services on 01698 269 977 or email enquiries@southernfs.co.uk and we will be happy to assist you.

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Founded in 1998, Southern Financial Services is an independently owned, family company that prides itself in offering easy to understand, professional advice to clients both across Scotland and throughout the UK.