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In advance or arrears?

Would you like to be paid in advance or arrears- it's up to you? If you choose in advance, you will receive your first payment as soon as your Pension Annuity starts. If you choose in arrears, you'll get your first payment at the end of whatever payment term you decided on e.g. if it was monthly, then you'll get your first payment one month after your Pension Annuity starts. There's another small thing to decide too - and again it's a little bit morbid. If you choose to be paid in arrears, you can choose to have your payments made with proportion or without proportion. With proportion means that if the Annuitant dies on a day other than the day on which an instalment of benefit is due, as soon as practicable after the next payment date the Pension Annuity provider will pay an appropriate amount which reflects, and is for, the period between the last payment and the date of death. Without proportion means that no further payments will be made, so the last payment received is the one immediately before the annuitants' death.