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The employer determines investment decisions in a pension plan.",[897],{"type":129,"attrs":898},{"color":773},{"type":18,"attrs":900,"content":901},{"textAlign":34},[902,907,916],{"text":903,"type":22,"marks":904},"Pensions differ from other types of retirement plans, such as a ",[905],{"type":129,"attrs":906},{"color":773},{"text":908,"type":22,"marks":909},"401(k)",[910,913,915],{"type":31,"attrs":911},{"href":912,"uuid":34,"anchor":34,"target":34,"linktype":36},"https://www.unbiased.com/discover/investing/what-is-a-401k-and-how-does-it-work",{"type":129,"attrs":914},{"color":831},{"type":833},{"text":917,"type":22,"marks":918},", which are owned and controlled by the employee. ",[919],{"type":129,"attrs":920},{"color":773},{"type":764,"attrs":922,"content":924},{"level":923,"textAlign":34},3,[925],{"text":926,"type":22,"marks":927},"What are the advantages of a pension?",[928],{"type":129,"attrs":929},{"color":930},"#434343",{"type":775,"content":932},[933,961,977],{"type":778,"content":934},[935],{"type":18,"attrs":936,"content":937},{"textAlign":34},[938,944,948,956],{"text":939,"type":22,"marks":940},"Guaranteed income: ",[941,943],{"type":129,"attrs":942},{"color":773},{"type":38},{"text":851,"type":22,"marks":945},[946],{"type":129,"attrs":947},{"color":773},{"text":856,"type":22,"marks":949},[950,953,955],{"type":31,"attrs":951},{"href":952,"uuid":34,"anchor":34,"target":34,"linktype":36},"https://www.unbiased.com/discover/retirement/what-is-a-pension",{"type":129,"attrs":954},{"color":831},{"type":833},{"text":957,"type":22,"marks":958}," provides a steady income in retirement, ensuring a stable retirement. ",[959],{"type":129,"attrs":960},{"color":773},{"type":778,"content":962},[963],{"type":18,"attrs":964,"content":965},{"textAlign":34},[966,972],{"text":967,"type":22,"marks":968},"Not dependent on the market:",[969,971],{"type":129,"attrs":970},{"color":773},{"type":38},{"text":973,"type":22,"marks":974}," Because a pension is defined by your years of service and not the market, there’s less of a worry that your retirement income will evaporate in unfavorable markets. ",[975],{"type":129,"attrs":976},{"color":773},{"type":778,"content":978},[979],{"type":18,"attrs":980,"content":981},{"textAlign":34},[982,988,993,1001],{"text":983,"type":22,"marks":984},"Higher investment amounts:",[985,987],{"type":129,"attrs":986},{"color":773},{"type":38},{"text":989,"type":22,"marks":990}," Companies and governments that use pension plans contribute significantly to them. 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It is possible they can default on pension payments. ",[1062],{"type":129,"attrs":1063},{"color":773},{"type":778,"content":1065},[1066],{"type":18,"attrs":1067,"content":1068},{"textAlign":34},[1069,1075],{"text":1070,"type":22,"marks":1071},"Not portable: ",[1072,1074],{"type":129,"attrs":1073},{"color":773},{"type":38},{"text":1076,"type":22,"marks":1077},"A pension plan doesn’t move from one employer to another as a 401(k) does. ",[1078],{"type":129,"attrs":1079},{"color":773},{"type":778,"content":1081},[1082],{"type":18,"attrs":1083,"content":1084},{"textAlign":34},[1085,1091],{"text":1086,"type":22,"marks":1087},"Lack of control:",[1088,1090],{"type":129,"attrs":1089},{"color":773},{"type":38},{"text":1092,"type":22,"marks":1093}," You don’t have any control over the investments with a defined benefit contribution plan.",[1094],{"type":129,"attrs":1095},{"color":773},{"type":778,"content":1097},[1098],{"type":18,"attrs":1099,"content":1100},{"textAlign":34},[1101,1107,1112,1121],{"text":1102,"type":22,"marks":1103},"May not pass to your spouse: ",[1104,1106],{"type":129,"attrs":1105},{"color":773},{"type":38},{"text":1108,"type":22,"marks":1109},"Some pension plans may have reduced ",[1110],{"type":129,"attrs":1111},{"color":773},{"text":1113,"type":22,"marks":1114},"benefits",[1115,1118,1120],{"type":31,"attrs":1116},{"href":1117,"uuid":34,"anchor":34,"target":34,"linktype":36},"https://www.unbiased.com/discover/banking/what-are-employee-benefits",{"type":129,"attrs":1119},{"color":831},{"type":833},{"text":1122,"type":22,"marks":1123}," to surviving spouses.  ",[1124],{"type":129,"attrs":1125},{"color":773},{"type":764,"attrs":1127,"content":1128},{"level":766,"textAlign":34},[1129],{"text":1130,"type":22,"marks":1131},"What is an annuity?",[1132],{"type":129,"attrs":1133},{"color":773},{"type":18,"attrs":1135,"content":1136},{"textAlign":34},[1137,1142,1151],{"text":1138,"type":22,"marks":1139},"An ",[1140],{"type":129,"attrs":1141},{"color":773},{"text":1143,"type":22,"marks":1144},"annuity",[1145,1148,1150],{"type":31,"attrs":1146},{"href":1147,"uuid":34,"anchor":34,"target":34,"linktype":36},"https://www.unbiased.com/discover/retirement/what-is-an-annuity",{"type":129,"attrs":1149},{"color":831},{"type":833},{"text":1152,"type":22,"marks":1153}," is an insurance product that offers guaranteed monthly income, possibly for the rest of your life. The exact amount depends on your age and the annuity is structure. It can be funded up front or over time. ",[1154],{"type":129,"attrs":1155},{"color":773},{"type":764,"attrs":1157,"content":1158},{"level":923,"textAlign":34},[1159],{"text":1160,"type":22,"marks":1161},"What are the advantages of an annuity?",[1162],{"type":129,"attrs":1163},{"color":930},{"type":775,"content":1165},[1166,1195,1211,1227],{"type":778,"content":1167},[1168],{"type":18,"attrs":1169,"content":1170},{"textAlign":34},[1171,1176,1181,1190],{"text":939,"type":22,"marks":1172},[1173,1175],{"type":129,"attrs":1174},{"color":773},{"type":38},{"text":1177,"type":22,"marks":1178},"An annuity is structured to give you ",[1179],{"type":129,"attrs":1180},{"color":773},{"text":1182,"type":22,"marks":1183},"guaranteed income",[1184,1187,1189],{"type":31,"attrs":1185},{"href":1186,"uuid":34,"anchor":34,"target":34,"linktype":36},"https://www.unbiased.com/discover/investing/12-investments-that-pay-monthly-income",{"type":129,"attrs":1188},{"color":831},{"type":833},{"text":1191,"type":22,"marks":1192}," and security in retirement. ",[1193],{"type":129,"attrs":1194},{"color":773},{"type":778,"content":1196},[1197],{"type":18,"attrs":1198,"content":1199},{"textAlign":34},[1200,1206],{"text":1201,"type":22,"marks":1202},"Tax advantages: ",[1203,1205],{"type":129,"attrs":1204},{"color":773},{"type":38},{"text":1207,"type":22,"marks":1208},"Some types of annuities offer tax-deferred growth.",[1209],{"type":129,"attrs":1210},{"color":773},{"type":778,"content":1212},[1213],{"type":18,"attrs":1214,"content":1215},{"textAlign":34},[1216,1222],{"text":1217,"type":22,"marks":1218},"Help manage market volatility:",[1219,1221],{"type":129,"attrs":1220},{"color":773},{"type":38},{"text":1223,"type":22,"marks":1224}," Annuities provide income regardless of market conditions. ",[1225],{"type":129,"attrs":1226},{"color":773},{"type":778,"content":1228},[1229],{"type":18,"attrs":1230,"content":1231},{"textAlign":34},[1232,1238],{"text":1233,"type":22,"marks":1234},"Ensure you don’t outlive your savings: ",[1235,1237],{"type":129,"attrs":1236},{"color":773},{"type":38},{"text":1239,"type":22,"marks":1240},"Annuities are an investment that offers returns to help your money grow with little risk.",[1241],{"type":129,"attrs":1242},{"color":773},{"type":764,"attrs":1244,"content":1245},{"level":923,"textAlign":34},[1246],{"text":1247,"type":22,"marks":1248},"What are the disadvantages of an annuity?",[1249],{"type":129,"attrs":1250},{"color":930},{"type":775,"content":1252},[1253,1269,1299],{"type":778,"content":1254},[1255],{"type":18,"attrs":1256,"content":1257},{"textAlign":34},[1258,1264],{"text":1259,"type":22,"marks":1260},"Liquidity:",[1261,1263],{"type":129,"attrs":1262},{"color":773},{"type":38},{"text":1265,"type":22,"marks":1266}," Once you invest in an annuity, your money is locked up for a set period before payouts begin. You can withdraw funds, but the money will be subject to insurance company fees and IRS penalties. ",[1267],{"type":129,"attrs":1268},{"color":773},{"type":778,"content":1270},[1271],{"type":18,"attrs":1272,"content":1273},{"textAlign":34},[1274,1280,1285,1294],{"text":1275,"type":22,"marks":1276},"Cost: ",[1277,1279],{"type":129,"attrs":1278},{"color":773},{"type":38},{"text":1281,"type":22,"marks":1282},"Annuities have ",[1283],{"type":129,"attrs":1284},{"color":773},{"text":1286,"type":22,"marks":1287},"high fees",[1288,1291,1293],{"type":31,"attrs":1289},{"href":1290,"uuid":34,"anchor":34,"target":34,"linktype":36},"https://www.unbiased.com/discover/financial-advice/financial-advisor-cost",{"type":129,"attrs":1292},{"color":831},{"type":833},{"text":1295,"type":22,"marks":1296}," and commissions. ",[1297],{"type":129,"attrs":1298},{"color":773},{"type":778,"content":1300},[1301],{"type":18,"attrs":1302,"content":1303},{"textAlign":34},[1304,1310],{"text":1305,"type":22,"marks":1306},"Complexity: ",[1307,1309],{"type":129,"attrs":1308},{"color":773},{"type":38},{"text":1311,"type":22,"marks":1312},"Annuities can be confusing and may include various structures, exclusions, riders, and fees that can be overwhelming. ",[1313],{"type":129,"attrs":1314},{"color":773},{"type":764,"attrs":1316,"content":1317},{"level":766,"textAlign":34},[1318],{"text":1319,"type":22,"marks":1320},"What are the similarities between annuities and pensions?",[1321],{"type":129,"attrs":1322},{"color":773},{"type":18,"attrs":1324,"content":1325},{"textAlign":34},[1326],{"text":1327,"type":22,"marks":1328},"Here is a breakdown of some of the similarities between annuities and pensions:",[1329],{"type":129,"attrs":1330},{"color":773},"article-rich-text",{"_uid":1333,"caption":12,"content":1334,"component":1352,"show_search":543,"paste_content":1353,"number_of_rows":1375,"show_pagination":543,"hide_heading_row":543,"search_placeholder":12,"first_col_to_headings":543},"6189f6da-5f2a-4380-a105-414045bfbec9",{"tbody":1335,"thead":1345,"fieldtype":1351},[1336],{"_uid":1337,"body":1338,"component":1344},"0e05b81f-d563-4dd5-b18d-100890affd72",[1339,1342],{"_uid":1340,"value":12,"component":1341},"63b5048b-2f22-401f-a05d-2e1dad54068a","_table_col",{"_uid":1343,"value":12,"component":1341},"3bcb2425-8c57-4690-bbac-600d637d30e2","_table_row",[1346,1349],{"_uid":1347,"value":12,"component":1348},"2134fd3f-9690-4f34-997f-3a54011cd9a9","_table_head",{"_uid":1350,"value":12,"component":1348},"84a6de50-d007-4a5f-9319-8ff7a93da794","table","article-table",{"type":15,"content":1354},[1355,1360,1365,1370],{"type":18,"attrs":1356,"content":1357},{"textAlign":34},[1358],{"text":1359,"type":22}," \tAnnuities\tPensions",{"type":18,"attrs":1361,"content":1362},{"textAlign":34},[1363],{"text":1364,"type":22},"Guaranteed income\tYes\tYes",{"type":18,"attrs":1366,"content":1367},{"textAlign":34},[1368],{"text":1369,"type":22},"Tax-deferred growth\tYes\tYes",{"type":18,"attrs":1371,"content":1372},{"textAlign":34},[1373],{"text":1374,"type":22},"Retirement focus\tYes\tYes","10",{"_uid":1377,"data":1378,"component":1331},"d613bc4e-054d-48f8-b237-849254bec784",{"type":15,"content":1379},[1380,1388,1396,1404,1412,1438,1446,1454,1462],{"type":764,"attrs":1381,"content":1382},{"level":923,"textAlign":34},[1383],{"text":1384,"type":22,"marks":1385},"Guaranteed income",[1386],{"type":129,"attrs":1387},{"color":930},{"type":18,"attrs":1389,"content":1390},{"textAlign":34},[1391],{"text":1392,"type":22,"marks":1393},"The major similarity both annuities and pensions share is guaranteed monthly income. Annuities pay out monthly after they’re funded, while pensions pay out after the employee meets certain requirements (e.g., age, years of service, etc.). ",[1394],{"type":129,"attrs":1395},{"color":773},{"type":764,"attrs":1397,"content":1398},{"level":923,"textAlign":34},[1399],{"text":1400,"type":22,"marks":1401},"Tax treatment",[1402],{"type":129,"attrs":1403},{"color":930},{"type":18,"attrs":1405,"content":1406},{"textAlign":34},[1407],{"text":1408,"type":22,"marks":1409},"Both pensions and annuities grow tax-free and are typically taxed as ordinary income when distributions are taken in retirement. Taxes on annuities could vary depending on the annuity's structure and whether it was funded with pre-tax dollars.",[1410],{"type":129,"attrs":1411},{"color":773},{"type":18,"attrs":1413,"content":1414},{"textAlign":34},[1415,1422,1432],{"text":1416,"type":22,"marks":1417},"See also: ",[1418,1420],{"type":129,"attrs":1419},{"color":773},{"type":1421},"italic",{"text":1423,"type":22,"marks":1424},"tax planning",[1425,1428,1430,1431],{"type":31,"attrs":1426},{"href":1427,"uuid":34,"anchor":34,"target":34,"linktype":36},"https://www.unbiased.com/discover/taxes/what-is-tax-planning",{"type":129,"attrs":1429},{"color":831},{"type":1421},{"type":833},{"text":1433,"type":22,"marks":1434},".",[1435,1437],{"type":129,"attrs":1436},{"color":773},{"type":1421},{"type":764,"attrs":1439,"content":1440},{"level":923,"textAlign":34},[1441],{"text":1442,"type":22,"marks":1443},"Retirement focus",[1444],{"type":129,"attrs":1445},{"color":930},{"type":18,"attrs":1447,"content":1448},{"textAlign":34},[1449],{"text":1450,"type":22,"marks":1451},"Both annuities and pensions are designed for retirement income. They’re generally not accessible under a certain age (though there are exceptions).",[1452],{"type":129,"attrs":1453},{"color":773},{"type":764,"attrs":1455,"content":1456},{"level":766,"textAlign":34},[1457],{"text":1458,"type":22,"marks":1459},"What are the differences between annuities and pensions?",[1460],{"type":129,"attrs":1461},{"color":773},{"type":18,"attrs":1463,"content":1464},{"textAlign":34},[1465],{"text":1466,"type":22,"marks":1467},"There are some differences between annuities and pensions, especially regarding funding source, flexibility, risk, cost, and control. ",[1468],{"type":129,"attrs":1469},{"color":773},{"_uid":1471,"caption":12,"content":1472,"component":1352,"show_search":543,"paste_content":1486,"number_of_rows":1375,"show_pagination":543,"hide_heading_row":543,"search_placeholder":12,"first_col_to_headings":543},"b11010aa-70ea-4423-9c2c-f6a1b3e475ce",{"tbody":1473,"thead":1481,"fieldtype":1351},[1474],{"_uid":1475,"body":1476,"component":1344},"3ad87086-8dd0-4904-b012-70b7d4ded107",[1477,1479],{"_uid":1478,"value":12,"component":1341},"f8036bed-0ad5-4567-90bd-4a7d8ae100c1",{"_uid":1480,"value":12,"component":1341},"73f7bbc3-cf7b-4afe-b5ca-f491c7517293",[1482,1484],{"_uid":1483,"value":12,"component":1348},"a7644e51-8190-46d5-8b63-dc3d4a66f2c7",{"_uid":1485,"value":12,"component":1348},"b587db78-8677-4b80-ac16-ece4e7a8ec7b",{"type":15,"content":1487},[1488,1492,1497,1502,1507,1512],{"type":18,"attrs":1489,"content":1490},{"textAlign":34},[1491],{"text":1359,"type":22},{"type":18,"attrs":1493,"content":1494},{"textAlign":34},[1495],{"text":1496,"type":22},"Funding source\tSelf\tEmployer",{"type":18,"attrs":1498,"content":1499},{"textAlign":34},[1500],{"text":1501,"type":22},"Flexibilty\tSome\tNone",{"type":18,"attrs":1503,"content":1504},{"textAlign":34},[1505],{"text":1506,"type":22},"Risk and guarantees\tLow\tLow",{"type":18,"attrs":1508,"content":1509},{"textAlign":34},[1510],{"text":1511,"type":22},"Cost and fees\tHigh\tNone",{"type":18,"attrs":1513,"content":1514},{"textAlign":34},[1515],{"text":1516,"type":22},"Control over investment\tSome\tNone",{"_uid":1518,"data":1519,"component":1331},"c2537e50-3a7c-43c1-a33d-b59e9007f077",{"type":15,"content":1520},[1521,1529,1537,1545,1553,1561,1583,1591,1599,1607,1615,1636,1644,1652,1660,1668,1676],{"type":764,"attrs":1522,"content":1523},{"level":923,"textAlign":34},[1524],{"text":1525,"type":22,"marks":1526},"Funding source",[1527],{"type":129,"attrs":1528},{"color":930},{"type":18,"attrs":1530,"content":1531},{"textAlign":34},[1532],{"text":1533,"type":22,"marks":1534},"With little exception, annuities are self-funded, while your employer funds pensions. ",[1535],{"type":129,"attrs":1536},{"color":773},{"type":764,"attrs":1538,"content":1539},{"level":923,"textAlign":34},[1540],{"text":1541,"type":22,"marks":1542},"Flexibility",[1543],{"type":129,"attrs":1544},{"color":930},{"type":18,"attrs":1546,"content":1547},{"textAlign":34},[1548],{"text":1549,"type":22,"marks":1550},"Annuities offer more flexibility than pension plans. Your employer defines pension plans with little variance, while annuities are insurance products chosen by you. ",[1551],{"type":129,"attrs":1552},{"color":773},{"type":764,"attrs":1554,"content":1555},{"level":923,"textAlign":34},[1556],{"text":1557,"type":22,"marks":1558},"Risk and guarantees",[1559],{"type":129,"attrs":1560},{"color":930},{"type":18,"attrs":1562,"content":1563},{"textAlign":34},[1564,1569,1578],{"text":1565,"type":22,"marks":1566},"Historically, pension plans have been administered by large companies and governments, which have lower",[1567],{"type":129,"attrs":1568},{"color":773},{"text":1570,"type":22,"marks":1571}," risk",[1572,1575,1577],{"type":31,"attrs":1573},{"href":1574,"uuid":34,"anchor":34,"target":34,"linktype":36},"https://www.unbiased.com/discover/investing/investment-risk-vs-reward-whats-your-attitude",{"type":129,"attrs":1576},{"color":831},{"type":833},{"text":1579,"type":22,"marks":1580},". However, your employer can default on pension payments. You can also choose to leave an employer, and if you don’t have enough time vested with the employer, you may not have much to show for it. ",[1581],{"type":129,"attrs":1582},{"color":773},{"type":18,"attrs":1584,"content":1585},{"textAlign":34},[1586],{"text":1587,"type":22,"marks":1588},"An annuity shares the risk of default if the insurance company goes under, but there’s a higher likelihood you’ll see the money. The annuity stays with you, even if you change employers or don’t work for the same employer for a number of years. ",[1589],{"type":129,"attrs":1590},{"color":773},{"type":764,"attrs":1592,"content":1593},{"level":923,"textAlign":34},[1594],{"text":1595,"type":22,"marks":1596},"Cost and fees",[1597],{"type":129,"attrs":1598},{"color":930},{"type":18,"attrs":1600,"content":1601},{"textAlign":34},[1602],{"text":1603,"type":22,"marks":1604},"The employee bears the cost and fees of the annuity. The employer is responsible for the pension's administrative costs.",[1605],{"type":129,"attrs":1606},{"color":773},{"type":764,"attrs":1608,"content":1609},{"level":923,"textAlign":34},[1610],{"text":1611,"type":22,"marks":1612},"Control over investment",[1613],{"type":129,"attrs":1614},{"color":930},{"type":18,"attrs":1616,"content":1617},{"textAlign":34},[1618,1623,1631],{"text":1619,"type":22,"marks":1620},"With a ",[1621],{"type":129,"attrs":1622},{"color":773},{"text":856,"type":22,"marks":1624},[1625,1628,1630],{"type":31,"attrs":1626},{"href":1627,"uuid":34,"anchor":34,"target":34,"linktype":36},"https://www.unbiased.com/discover/retirement/rollover-pension-to-ira",{"type":129,"attrs":1629},{"color":831},{"type":833},{"text":1632,"type":22,"marks":1633},", there’s little control (if any) over the investments, allocations, distributions, and other requirements. You won’t see a statement or the results of investments made by the plan administrator. With an annuity, you can exercise a little more control in what you choose. ",[1634],{"type":129,"attrs":1635},{"color":773},{"type":764,"attrs":1637,"content":1638},{"level":766,"textAlign":34},[1639],{"text":1640,"type":22,"marks":1641},"Is an annuity and a pension the same thing?",[1642],{"type":129,"attrs":1643},{"color":773},{"type":18,"attrs":1645,"content":1646},{"textAlign":34},[1647],{"text":1648,"type":22,"marks":1649},"An annuity is not the same as a pension. ",[1650],{"type":129,"attrs":1651},{"color":773},{"type":18,"attrs":1653,"content":1654},{"textAlign":34},[1655],{"text":1656,"type":22,"marks":1657},"Both provide a consistent monthly income, but the funding source and underlying investment are vastly different. ",[1658],{"type":129,"attrs":1659},{"color":773},{"type":764,"attrs":1661,"content":1662},{"level":766,"textAlign":34},[1663],{"text":1664,"type":22,"marks":1665},"The bottom line",[1666],{"type":129,"attrs":1667},{"color":773},{"type":18,"attrs":1669,"content":1670},{"textAlign":34},[1671],{"text":1672,"type":22,"marks":1673},"To get the retirement you need, a financial plan is a must. To ensure you have the right investments in place, you’ll want professional financial advice. ",[1674],{"type":129,"attrs":1675},{"color":773},{"type":18,"attrs":1677,"content":1678},{"textAlign":34},[1679,1687],{"text":824,"type":22,"marks":1680},[1681,1684,1686],{"type":31,"attrs":1682},{"href":1683,"uuid":34,"anchor":34,"target":34,"linktype":36},"https://v2.unbiased.com/inquiry/financial-advisor/primary-areas?mf-type=regular&mf-type=regular&flow=affiliate-journey",{"type":129,"attrs":1685},{"color":831},{"type":833},{"text":1688,"type":22,"marks":1689}," offers an easy way to get matched with a financial advisor who can advise on every aspect of your unique journey. ",[1690],{"type":129,"attrs":1691},{"color":773},[1693],{"_uid":1694,"image":1695,"title":1700,"CTALink":12,"CTAText":51,"subtitle":12,"component":1718,"breadcrumbs":558,"showHeroImage":543},"7258534c-6542-4ae2-bfde-cd263bf80204",{"id":1696,"alt":12,"name":12,"focus":12,"title":12,"source":12,"filename":1697,"copyright":12,"fieldtype":1698,"meta_data":1699,"is_external_url":543},124478590914168,"https://a.storyblok.com/f/185166/4480x6720/218f4a283c/annuity-vs-pension.jpg","asset",{},{"type":15,"content":1701},[1702],{"type":18,"attrs":1703,"content":1704},{"textAlign":34},[1705,1713],{"text":1706,"type":22,"marks":1707},"Annuity vs. pension",[1708,1710],{"type":129,"attrs":1709},{"color":773},{"type":25,"attrs":1711},{"class":1712},"primary-gradient",{"text":1714,"type":22,"marks":1715},": what’s the difference?",[1716],{"type":129,"attrs":1717},{"color":773},"app-hero",{"name":1720,"created_at":1721,"published_at":1722,"updated_at":1723,"id":1724,"uuid":1725,"content":1726,"slug":1737,"full_slug":1738,"sort_by_date":34,"position":1739,"tag_list":1740,"is_startpage":543,"parent_id":1741,"meta_data":34,"group_id":1742,"first_published_at":1743,"release_id":34,"lang":730,"path":34,"alternates":1744,"default_full_slug":34,"translated_slugs":34,"_stopResolving":558},"Alene Laney","2025-01-10T11:20:16.824Z","2025-07-31T11:31:28.400Z","2025-07-31T11:31:28.412Z",607140568,"fa11c784-d733-4cc0-a8ec-90a90154b805",{"job":1727,"_uid":1728,"name":1720,"image":1729,"component":1733,"education":1734,"expertise":1735,"description":1736},"Content Writer","a6e3129c-eeee-4438-8204-797883981521",{"id":1730,"alt":12,"name":12,"focus":12,"title":12,"source":12,"filename":1731,"copyright":12,"fieldtype":1698,"meta_data":1732,"is_external_url":543},19801386,"https://a.storyblok.com/f/185166/1986x1986/48279a1e44/alene-laney.jpg",{},"article-author","University of Utah, BA in English Literature & History ","Laney has more than 10 years of experience in media, including newsprint, public relations, marketing, and SEO content writing. \nHer work has been featured in national publications such as The Wall Street Journal, Fox Business, SoFi, Credible, and others.","Alene Laney is an award-winning journalist for Unbiased, where she breaks down financial topics related to retirement, investing, and banking. \n\nShe specializes in helping readers make the best decisions for their money with long-form content for brands and consumer publications.","alene-laney","authors/alene-laney",-20,[],224651374,"e2751bd8-55e4-46e9-94e4-ccce2929794c","2025-01-10T11:21:18.666Z",[],[1746],{"_uid":1747,"body":1748,"title":12,"component":1749},"628318e0-01e9-4c44-8673-bc4675b4f2b9",[],"app-links-list",{"_uid":1751,"title":1752,"plugin":1753,"og_image":12,"og_title":12,"description":1754,"twitter_image":12,"twitter_title":12,"og_description":12,"twitter_description":12},"816d20ab-c011-4ece-88e7-166dd6d8a7ef","Annuity vs. pension: what’s the difference?","seo_metatags","An annuity is a private insurance product whereas a pension is an employer-funded retirement plan. Learn more about the difference here. ",{"name":1756,"created_at":1757,"published_at":1758,"updated_at":1759,"id":1760,"uuid":1761,"content":1762,"slug":1770,"full_slug":1771,"sort_by_date":34,"position":1772,"tag_list":1773,"is_startpage":543,"parent_id":1741,"meta_data":34,"group_id":1774,"first_published_at":1775,"release_id":34,"lang":730,"path":34,"alternates":1776,"default_full_slug":34,"translated_slugs":34,"_stopResolving":558},"Rachel Carey","2023-03-28T10:05:08.718Z","2025-01-28T12:05:49.815Z","2025-01-28T12:05:49.832Z",283076789,"b4ce951f-89c7-4ef6-97a8-709dc6d856e1",{"job":1763,"_uid":1728,"name":1756,"image":1764,"component":1733,"education":1767,"expertise":1768,"description":1769},"Senior Content Writer",{"id":1765,"alt":12,"name":12,"focus":12,"title":12,"filename":1766,"copyright":12,"fieldtype":1698,"is_external_url":543},7792663,"https://a.storyblok.com/f/185166/1199x1257/2401746255/rachel-carey.jpg","Griffith College Dublin, MA (Hons) in Journalism & Media Communications","Rachel brings over a decade of experience in media, including SEO content writing, marketing, public relations, and broadcast and print journalism.","Rachel is a Senior Content Writer at Unbiased, producing content across a range of different sectors, including personal finance, retirement, and investing. She specializes in simplifying intricate financial terms into clear, engaging content tailored for both B2C and B2B audiences.","rachel-carey","authors/rachel-carey",-10,[],"024abff2-15a6-4099-8ba2-25c01abe42e8","2023-04-03T07:50:42.397Z",[],"app-article",[],[],"An annuity is a private insurance product funded by the investor, whereas a pension is an employer-funded retirement plan. Learn more about the difference here. ",[],"annuity-vs-pension","discover/investing/annuity-vs-pension",-1200,[],365491304,"c08c6b6a-134f-48dd-ba2c-a51840bd3102",[],{"left":727,"top":727,"width":1790,"height":1790,"rotate":727,"vFlip":543,"hFlip":543,"body":1791},24,"\u003Cpath fill=\"currentColor\" d=\"M3.71 16.29a1 1 0 0 0-.33-.21a1 1 0 0 0-.76 0a1 1 0 0 0-.33.21a1 1 0 0 0-.21.33a1 1 0 0 0 .21 1.09a1.2 1.2 0 0 0 .33.21a.94.94 0 0 0 .76 0a1.2 1.2 0 0 0 .33-.21a1 1 0 0 0 .21-1.09a1 1 0 0 0-.21-.33M7 8h14a1 1 0 0 0 0-2H7a1 1 0 0 0 0 2m-3.29 3.29a1 1 0 0 0-1.09-.21a1.2 1.2 0 0 0-.33.21a1 1 0 0 0-.21.33a.94.94 0 0 0 0 .76a1.2 1.2 0 0 0 .21.33a1.2 1.2 0 0 0 .33.21a.94.94 0 0 0 .76 0a1.2 1.2 0 0 0 .33-.21a1.2 1.2 0 0 0 .21-.33a.94.94 0 0 0 0-.76a1 1 0 0 0-.21-.33M21 11H7a1 1 0 0 0 0 2h14a1 1 0 0 0 0-2M3.71 6.29a1 1 0 0 0-.33-.21a1 1 0 0 0-1.09.21a1.2 1.2 0 0 0-.21.33a.94.94 0 0 0 0 .76a1.2 1.2 0 0 0 .21.33a1.2 1.2 0 0 0 .33.21a1 1 0 0 0 1.09-.21a1.2 1.2 0 0 0 .21-.33a.94.94 0 0 0 0-.76a1.2 1.2 0 0 0-.21-.33M21 16H7a1 1 0 0 0 0 2h14a1 1 0 0 0 0-2\"/>",[1793,1796,1797],{"title":1794,"exact":558,"href":1795},"Home","https://www.unbiased.com",{"title":282,"exact":558,"to":295,"disabled":543},{"title":750,"exact":558,"to":1798,"disabled":558},"/discover/investing/annuity-vs-pension",{"left":727,"top":727,"width":733,"height":733,"rotate":727,"vFlip":543,"hFlip":543,"body":1800},"\u003Cpath fill=\"currentColor\" d=\"m181.66 133.66l-80 80a8 8 0 0 1-11.32-11.32L164.69 128L90.34 53.66a8 8 0 0 1 11.32-11.32l80 80a8 8 0 0 1 0 11.32\"/>",1781084572271]