An annuity contract would do you some good during your retirement years, especially since you would not be able to work again for income. So it is best that you sign up for one to make your financial situation a little better during that time.
With an annuity contract, you would be able to have a regular source of income on a weekly, monthly, bimonthly, or quarterly basis according to how regular you want to receive them. Its rates are determined by your age, gender, and lifestyle. And you would be allowed to have some kind of arrangement to sort out, such as letting your family members receive the rest of the pension annuities amount when you are gone. And this service guarantees that you would be paid for as long as you are still alive and well.
But choosing annuities could get difficult, with its complicated language and conditions that you need the help of a consultant and of a pension annuities calculator to help you understand. And keep in mind that once you choose an annuity contract to sign up for, you would not be able to change it so you need to choose wisely.
Just make sure you make an informed decision by doing a thorough search and research before making an annuity purchase. If you do, you would be able to enjoy your retirement years to do what you want to do without making additional expenses.