Products Archive

New Open Annuity (Full Annuity)

London & Colonial's New Open Annuity is the successor of the original Open Annuity. 

It combines some of the essential elements from income drawdown product and a conventional annuity, including

  • investment control;
  • ability to vary income;
  • lump sum death benefits;
  • Second Life Nominations;
  • 10 Year Guarantee Period;
  • Charity Nomination options; 

The New Open Annuity is a decumulation solution, which is offers greater investment flexibility to that of the Multi-Platform Open Annuity and with no "lock-in", can evolve in line with your clients changing income or investment requirements, throughout the whole of their retirement.


Benefits to clients: 


  • Regular product and income reviews – to ensure that the best available rate is always received
  • Periodic reassessments enabling clients to benefit fully from age or health related rate increases
  • No ‘tie-in’, for the duration of their retirement, to the same low fixed levels of income 



  • Higher levels of income than available through Capped Drawdown or a conventional annuity - see comparison
  • Income available at 120% of the average of the best 3 annuity rates available (including enhanced/impaired rates)
  • Choice over the amount and frequency of income payments 



  • Can remain fully self-invested while decumulating funds

Please remember that investment based annuities carry a higher risk than conventional annuities, which means that their value and the income derived from them can fall as well as rise and you may not benefit from the full amount invested.



  • Fully flexible product, with no ‘lock-in’ – unlike conventional annuities
  • Ability to alter their level of income throughout retirement, as personal circumstances change
  • Add or change the nominated second life at any time
  • Annuity protection lump sum death benefits available
  • 10 year guarantee period without reducing the annuity income  
  • Option available to convert to a conventional annuity at any time


London & Colonial do not provide either financial or investment advice and this type of service is not suitable for everyone which is why we recommend that all applications should be made via a Financial Adviser.

Please note: It is a requirement of the Gibraltar Financial Services Commission (GFSC), the Gibraltar regulator that applicants must at all times have access to financial and investment advice throughout the life of the annuity, Non advised applications will not be accepted.

Why not give us a call?

To discover for yourself how our innovative range of pension wrappers can benefit both you and your clients, call us on:

0203 479 5505

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