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"his retirement fund was set up to be paid as an annuity"nounincome from capital investment paid in a series of regular payments
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Definition that contains annuity
- tontine an annuity scheme wherein participants share certain benefits and on the death of any participant his benefits are redistributed among the remaining participants; can run for a fixed period of time or until the death of all but one participant
- annuity in advance an annuity paid in a series of more or less equal payments at the beginning of equally spaced periods
- ordinary annuity an annuity paid in a series of more or less equal payments at the end of equally spaced periods
- annuitant the recipient of an annuity
- reversionary annuity an annuity payable to one person in the event that someone else is unable to receive it
- survivorship annuity an annuity payable to one person in the event that someone else is unable to receive it