1. When a person invests money in an annuity for the purpose of providing income for retirement they are at the accumulation period of the annuity's lifespan. The more invested during the accumulation phase, the more will be received during the annuitization phase.
2. Postponing consumption by saving during an accumulation period will most often increase the amount of consumption one will be able to have later. The earlier the accumulation period is in your life, the more advantages you will have, such as compounding interest and protection from business cycles.