Pacific Odyssey® Advantage Variable Annuity
Guaranteed income for life in any market.
Keep your retirement savings invested and secure a retirement income stream for life—no matter how your investments perform—with the Pacific Odyssey® Advantage Variable Annuity and its optional living benefit.1
Questions about annuities? Contact an annuity specialist at 866-663-5241.
Find a branch
: opens in a new window
Benefits
- Keep more of your money working while maintaining flexibility, with cost 50%-65% lower than the industry average and NO surrender charges.1
- Grow your income, guaranteed with Portfolio Income Benefit, an-optional living benefit that provides guaranteed income for life.2
- Choose from over 100 professionally managed portfolios and make adjustments as your needs change.2
- Tax-deferred growth potential for your retirement savings.
- Provide legacy protection for your beneficiaries with an optional Return of Purchase Payments Death Benefit.
NOTE: An optional living benefit and an optional death benefit are available for an additional charge. An optional death benefit is not available if you have selected Portfolio Income Benefit optional living benefit and you will be unable to elect Portfolio Income Benefit at a later date if you select an optional death benefit.
Pacific Odyssey® Advantage Variable Annuity is a variable annuity offered by Charles Schwab and issued by Pacific Life. Guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company, not Schwab, and do not apply to the separate account or the underlying portfolios available with this contract.
Right for you?
An annuity can help take the worry out of retirement income, but not all annuities are the same. While there are a number of factors to consider, this variable annuity could be a good fit for your retirement needs if:
- You're within 10 years of retirement.
- You believe you may live at least 20 more years once you begin making income withdrawals.
- You have sufficient savings available for unexpected expenses, reducing the likelihood that you would need to make an unexpected excess withdrawal from your annuity.
- Social Security and other predictable income may not be enough to cover your essential expenses.
Schwab recommends you cover essential expenses, such as healthcare, food, and housing with income from predictable sources.
Living Benefit options
With the Pacific Odyssey® Advantage Variable Annuity, you can secure lifetime income through annuitization or by purchasing the optional Portfolio Income Benefit guaranteed lifetime withdrawal benefit (GLWB)
Costs and savings
With the Pacific Odyssey® Advantage Variable Annuity, you’ll have the satisfaction of knowing that your base annuity fees fall well below the industry average.
- Pacific Odyssey® Advantage Variable Annuity = 0.45% compared to 1.28% Industry Average.
- Fees are straightforward and fully disclosed.
- There are no surrender charges or surrender periods if you decide to withdraw your money for any reason.3
Source: 1.28% industry average according to a March 10, 2025 survey of 2,396 non-group variable annuities. This does not include fees associated with the optional death benefits, optional living benefits, or underlying investment options.
*Account values greater than $500,000 or $1,000,0000 qualify for a reduction of 0.05% or 0.10%, respectively, for the upcoming contract quarter. The account value is the annuity contract value. Eligibility for reduction is redetermined each quarterly contract anniversary. Please refer to the prospectus for additional information.
How much can you save?
Already own a variable annuity elsewhere? Talk to a Schwab annuity specialist to see how much you might save by exchanging your current variable annuity for a competitively priced annuity at Schwab.
Before exchanging your current annuity, you should consider a number of important factors that could reduce or eliminate the benefit of the exchange. These include surrender charges on your existing contract, loss of guaranteed benefits, and differences in features, costs, services, and company strength.
