A retirement annuity, as the name implies, is an investment policy which is used to save for your retirement. The policy can be funded by way of a single lump sum or regular contributions. A retirement annuity runs until the day you retire and cannot be accessed until then. Again, there are several tax advantages attached to the retirement annuity, with the added advantage that all of Contego’s funds could be used within this policy, making it an attractive retirement savings vehicle.