A joint-life annuity is a financial product that provides an income to your spouse or civil partner, or any other chosen beneficiary, after you have died, for the rest of their life. Some annuity providers offer this joint-life annuity to a dependent child, typically until they are aged 23.

Joint-life annuities make sense when your partner does not have a retirement provision of their own. Joint-life annuities are also known as “survivor’s annuities”, “widow’s pensions” or “spouse’s annuities”. You can decide on whether your spouse or civil partner receives the same as you received or a reduced amount. For example, if you wish it to be halved, you would choose a 50% joint-life annuity.