There are several benefits whenever it comes purchasing an annuity, which includes:
- Immunity from the impact of market returns and fluctuating interest rates,
- The option to have payments start immediately or at a later date and continue for life,
- The security of knowing you will never run out of money because an income annuity cannot be outlived
Purchasing an annuity is a choice. You are not required to purchase an annuity with your DC balance.