annuity

[uh-noo-i-tee, uh-nyoo-]

noun

plural

annuities 

1. a specified income payable at stated intervals for a fixed or a contingent period, often for the recipient's life, in consideration of a stipulated premium paid either in prior installment payments or in a single payment.

2. the right to receive such an income, or the duty to make such a payment or payments.

annuity

/ əˈnjuːɪtɪ /

noun

1. a fixed sum payable at specified intervals, esp annually, over a period, such as the recipient's life, or in perpetuity, in return for a premium paid either in instalments or in a single payment

2. the right to receive or the duty to pay such a sum

annuity

1. A sum of money payable yearly or at regular intervals.

Many people's retirement funds are set up to be paid in annuities.

Other Word Forms

• superannuity noun

Word History and Origins

Origin of annuity¹

First recorded in 1400–50; late Middle English, from Anglo-French annuité, annualté, from Medieval Latin annuitās, equivalent to Latin annu(us) “yearly,” derivative of annus “year” + -itās -ity

Word History and Origins

Origin of annuity¹

C15: from French annuité, from Medieval Latin annuitās, from Latin annuus _annual

Example Sentences

The perks of the contract include an annual $50,000 retirement annuity over and above his salary.

From Los Angeles Times

If the winner picks the annuity option, they will one payment immediately and then 29 annual payments, increasing by 5% each year.

From Los Angeles Times

A winner who selects the annuity option would receive one immediate payment followed by 29 annual payments that increase 5% each year.

From Los Angeles Times

However, the market is favourable to anyone currently buying an annuity - a retirement income for the rest of their life, bought only once.

From BBC

Administrative costs total only 0.5% of annual benefits, about a quarter of the percentage cost fifty years ago, and far cheaper than private retirement annuities.

From Salon

Related Words

• amount 
• award 
• cash 
• deposit 
• disbursement 
• fee 
• outlay 
• pension 
• premium 
• refund 
• reimbursement 
• remittance 
• reparation 
• repayment www.thesaurus.com
• restitution 
• return 
• reward 
• royalty 
• salary 
• settlement