An Annuity is simply an agreement from a provider to pay you a stated sum of money per year until you die. The rate you get for your Annuity depends on your marital status, health and where you live. Shopping around for the best Annuity deal is known as exercising your Open Market Option.
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. Click the information button next to the plan to find out more about how to apply.
Although your pension provider may give you what you think is the best deal, you are strongly advised to shop around for your annuity and don’t miss out on better rates elsewhere.
Due to higher average life expectancies annuity rates have dropped but this is dependent on your needs and circumstances.