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Do payments have to begin immediately or can they start when the annuitant retires?

April 26, 2017annuitant immediately PAYMENTS retires

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Do payments have to begin immediately or can they start when the annuitant retires?

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Payments may begin at a later date. This is called a “deferred payment gift annuity.” Because the payments are deferred, they may be higher than the payments for an immediate annuity. This option may be very attractive to those who do not need income now but wish to plan for retirement.