: Unit-linked plans invest in market instruments (higher risk/return), while non-linked plans offer more stable, often guaranteed, benefits. 2. Buying an Annuity (Payout)
If you already have a pension pot, you can "buy a pension" by converting that lump sum into a guaranteed regular income for life. When should you kick-start a pension plan? buying a pension
: A government-backed voluntary contribution scheme designed to provide retirement income to citizens. : Unit-linked plans invest in market instruments (higher
This involves paying regular premiums or a lump sum to build a retirement "pot" over time. while non-linked plans offer more stable