Your income can typically be paid monthly, quarterly, half-yearly or yearly, depending on which annuity you choose. Income can also be paid either:
- ’in advance’ (this means that income will be from the start date), or
- ’in arrears’ (this means that income will be paid a month, quarter, half-year or year after the start date)
- ’chosen start date’ (this means you can choose to have your income paid on a certain date each month. The first payment must be paid within one month of the start date of the plan and is only available where income is paid monthly).