FREE Pension calculator: Discover the best rates on the market
Calculate your best annuity rate today for up to 40% more from your pension.
- FREE ANNUITY CALCULATION - Use our Free annuity calculator to get your no obligation quote.
- COMPREHENSIVE QUOTES - Get comprehensive quotes from the UK's leading annuity providers.
- BEST ANNUITY RATES - Discover the best annuity rates available and maximise your retirement income.
Your Annuity Calculator and Annuity Rates Explained
Before you use the annuity calculator, it’s worth understanding a little more about the annuity purchase process and the importance of comparing your annuity rates.
As you approach retirement age, your pension provider (the provider that you’ve been investing your pension contributions with) should send you a retirement pack.
In this pack, your available annuity rates will be presented as a percentage. As an example, if you have a £100,000 pension value, and are offered a 5.5% annuity rate, your annual income will be around £5,500.
You are free to take this rate, but it could be more beneficial to shop around.
The Importance of Comparing Your Annuity
When you receive your annuity rate from your annuity provider, you may be wondering why there is a need to shop around – going through the process of using an annuities calculator to compare your annuity rate with that of other providers.
One of the main reasons is that the rate that your provider offers may not be the best available.
Just like banks offer different rates of interest, so can pension providers, and these interest rates have an impact on the annuity rates they can offer you.
Enhanced annuities are also available depending on your health and life expectancy, which your pension provider won’t have knowledge of.
Your open-market option gives you the ability to search the whole market for the best rate – and a free annuity calculator like the one above does that for you.