Some short-term lenders charge annual payment rates of up to 2,500 per cent.

I say this partly as someone whose pension looks risible when configured as an annual payment yet rather tasty once available as a lump sum.

The annual payment will be $38 billion in 2018-19.

For that annual payment alone, you get someone you can talk to the entire time, even on long-distance car journeys.

This year he cut his annual payment to 555,000 by opting for a 1.8 million lump sum instead.