The restriction of the pension is a kind of rent you pay on a certain number of year. Fixed-term annuities are like any other income or a lump sum payment on account or in a start-up costs and payments have continued funding, usually until you are ready to begin receiving funds from the account. When you configure a permanent lease, you can move for a fixed or variable interest rates and the possibility of receiving payments immediately or from the ground.
Fixed period annuities are most often used as a way to help fund retirement, but not always. Investors can receive the funds from a fixed period annuity starting at any age. These funds are therefore often used as a means to fund a temporary income need, like paying for a child's education, for example. Payments can be dispersed out over as little as 5 years and on up, depending on the terms of the company you go with.
There is no limit to the amount of money you can invest into a fixed period annuity, although you will usually have to start with an initial investment of at least $5,000. When you are ready to start receiving payments from your account you can set up a variety of payment options including monthly payments, quarterly, yearly or even bi-yearly. If you are using the account to fund your retirement you may want to go with monthly payments where if you are using the account to fund a college education it may make more sense to set up a yearly withdrawal.
The amount that you receive in each payment is dependent on the amount you have invested into the account, the interest you have earned and the time frame you will receive payments.