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PensionCalculator.org has teamed up with financial professionals to provide you with access to the best annuity rates, expert advice on pension enquiries, pension release and other retirement issues.
Click the links below to begin the application process.
Annuity is like an insurance which is part of your retirement plan. It is a simple agreement to pay you a state sum per year until you die. Depending on how much you have paid into your pension, and how old you are when you retire determines how much of your pension you recieve. In most cases this will be between 65 and 75 and it is compulsory to have an annuity by the time you reach 75. The only exception to this is the final salary pension scheme, but it is becoming increasingly difficult for companies to avoid.
At Pension Calculator, we have taken a look at all of the annuity plans across the market, and picked out the 5 best policies for you based on a purchase price of £10,000.
You are strongly advised to shop around for your annuity so that you do not miss out on better rates elsewhere. Your pension provider may not advertise this and will give you what they may think is the best deal.
See below for Pension annuities for 65 year old Males
| Pension Annuity 65yr old Male | |||
| Bank | Interest | Notes | Link |
| Hodge Lifetime | £616 | Based on a Purchase Price of £10,000 | info |
| Aviva | £597 | Based on a Purchase Price of £10,000 | info |
| Canada Life | £612 | Based on a Purchase Price of £10,000 | info |
| Saga | £613 | Based on a Purchase Price of £10,000 | info |
| Legal & General | £596 | Based on a Purchase Price of £10,000 | info |
The information shown is taken from Moneyfacts and correct as of October 2011.
See below if you suffer from a medical condition for Enhanced Annuities for 65 year old Males:
| Enhanced Annuity 65yr old Male | |||
| Bank | Interest | Notes | Link |
| Partnership | £804 | Based on a Purchase Price of £10,000 | info |
| Just retirement | £756 | Based on a Purchase Price of £10,000 | info |
| Mgmadvantage | £74 | Based on a Purchase Price of £10,000 | info |
| LV= | £710 | Based on a Purchase Price of £10,000 | info |
| Reliance Mutual | £711 | Based on a Purchase Price of £10,000 | info |
The information shown is taken from Moneyfacts and correct as of October 2011.
See below for pension annuities for 65 year old females:
| Pension Annuity 65yr old Female | |||
| Bank | Interest | Notes | Link |
| SAGA | £576 | Based on a Purchase Price of £10,000 | info |
| Hodge Lifetime | £576 | Based on a Purchase Price of £10,000 | info |
| Legal & General | £566 | Based on a Purchase Price of £10,000 | info |
| Aviva | £561 | Based on a Purchase Price of £10,000 | info |
| Canada Life | £579 | Based on a Purchase Price of £10,000 | info |
The information shown is taken from Moneyfacts and correct as of October 2011.
See below if you suffer from a medical condition for enhanced annuities 65 year old females:
| Enhanced Annuity 65yr old Female | |||
| Bank | Interest | Notes | Link |
| Just retirement | £731 | Based on a Purchase Price of £10,000 | info |
| Partnership | £709 | Based on a Purchase Price of £10,000 | info |
| Mgmadvantage | £692 | Based on a Purchase Price of £10,000 | info |
| LV= | £654 | Based on a Purchase Price of £10,000 | info |
| Reliance mutual | £686 | Based on a Purchase Price of £10,000 | info |
The information shown is taken from Moneyfacts and correct as of October 2011.
Due to higher average life expectancies annuity rates have dropped and rates are also dependent on your needs and circumstances.
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