forfeited, and all right to the annuity is ex-
tinguished.

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) 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.