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Planning for a sustainable retirement

An annuity is handy as it potentially provides a stream of 'guaranteed' income flow to supplement other sources of income

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Enough money for a lifetime: It has been reported that for Singaporeans who are 65 today, about half of them are expected to live another 20 years (that is, 85 and beyond), while a third will live beyond 90. - PHOTO: BLOOMBERG

BUYING an annuity insurance policy is a daunting experience. That was how I felt when I forked out $100,000 to insurance cooperative NTUC Income in 2011 in return for some peace of mind in my golden years. It was unnerving not only because I coughed up a six-figure sum as a one-time single