Don’t you wish to live a stress free life post retirement? Are you not interested in enjoying the remaining days of your life in luxury? You certainly do but your pension and social security income might pose as a restriction. 
Therefore, what stands as an alternative?
Retirement Annuity in such situations has come across as the saving grace.
This particular financial scheme allows you to make use of a portion of your savings to offer you with an income, in the form of monthly installments for the remaining years in your life post retirement.