Annuity Income

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Annuity Income

The income one derives from an annuity one previously purchased. Many pensions and other retirement plans are annuities. However, one may receive annuity income from other sources, such as a settlement from a lawsuit or from lottery winnings. Annuity income is generally taxed like ordinary income.
References in periodicals archive ?
The issue of falling annuity incomes therefore predates the financial crisis and cannot be attributed solely to the Bank of England's policy of quantitative easing.
According to statistics compiled by the annuity provider MGM Advantage, annuity incomes have fallen by approximately 15 per cent since Quantitative Easing began in March 2009.
QE makes it cheaper for companies to borrow by pushing down the yield on government bonds, but annuity incomes are also based on these yields, meaning that new pensioners see their incomes reduced.