Can you explain how annuity payments work and how they are taxed?

Can you explain how annuity payments work and how they are taxed?

Can you explain how annuity payments work and how they are taxed?

Could you explain how annuity products work? Looking at the comparisons in the Best Buys section of the magazine each month, is the first column of figures the amount paid out each month or is the third column this figure?

Also, when buying an annuity, is tax paid on the whole sum put forward or is tax deducted from the monthly…

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