St. Patrick's Day. St Patrickâs Day is a global celebration of Irish culture on or around March 17. It particularly remembers St Patrick, one of Irelandâs patron saints, who ministered Christianity in Ireland during the fifth century. St Patrickâs Day is celebrated in countries with people of Irish decent.
A difference that can be seen between pension and annuity is in the payment amount. The pension is determined by the sum that one has earned during his service and adjusted for the duration of his career. Annuity is a scheme that is determined by the amount of investment made by a person towards the scheme.
And pensioners who have several annuities may want to take a (reduced) tax hit on one or two small annuities in exchange for a cash sum, he said. An annuity is a policy from an insurance company that converts a pension fund, or part of a pension fund, into a regular pension income.