Payment for an annuity is made by the
transfer of 2 1/2 per cent. Consols, or money of equi-
valent value, at the price of the stock on the day
of the transaction.
The tables (see p.44) show the annuity which
£100 of 2 1/2 per cent. stock will purchase, to con-
tinue during the life of a nominee at the re-
spective ages and according to the prices of 2 1/2
per cent. stock therein stated. It will be seen
that in the case of money being paid for the
purchase of the annuity, the higher the price of
Consols the dearer will be the purchase. Thus,
a female buying an annuity at the age of fifty,
amounting to £5 19s. 8d. per annum, and Consols
being at _par_, or 100, would, if she paid for it
_in money_, have to expend £100. But suppose
Consols to be at 108 (as they are at present) Accurate tests all over the web resulted in this location and captures the best sites from all those available for you to learn us Art Insurance.. she
would have to pay £108 for the same annuity.
Tables relating to annuities on joint lives and
to deferred annuities may be obtained at the
National Debt Office, 19, Old Jewry, London, by
application direct, or through a bank.
No person under the age of fifteen can be ap-
pointed the nominee for any life annuity.
Life annuities are payable quarterly at the
National Debt Office, in the form of a warrant
on the Bank of England, either on personal
demand, or through a bank by Power of Attor-
ney; or they can be transmitted to the pro-
prietor by post. The fixed dates are the fifth of
January, the fifth of April, the fifth of July, and
the fifth of October in each year.
The first quarterly payment of annuities will
become due as follows, namely: On annuities
purchased between the first of December and
the last day of February, on the fifth of April
next following the day of purchase.
Between the first of March and the last day of
May, on the fifth of July next following.