Best Annuity Rates

Choosing the best annuity rates can boost your retirement income by up to 40%. Complete our annuity quote form now and we’ll compare dozens of providers to find you the best annuity rates. Our annuity specialists will ensure you get the maximum retirement income. Our service is FREE with no obligation.

It is your right to shop around for the best annuity – so use it! A lot of people wrongly assume that they have to buy their pension annuity from the company with which they have been building up their pension with. This is not true, in fact you can buy your pension from a company of your choosing, it’s what is known as using the Open Market Option (OMO). Some recent estimates have shown that around 60% of retirees fail shop around for the best deal meaning they could be losing out on thousands of pounds of potential income. It is unlikely that your current pension provider has the best annuity offer for you, which means you will miss out on a potentially higher retirement income if you do not compare providers.

Retirement and Pension Annuities

A lot of retirees think that their pension starts to pay out automatically when they retire – this is not the case. Your ‘pension’ if you have been saving into a ‘defined contributions’ scheme is really just a pot of money, it belongs to you, and you can choose to invest it with whichever pension provider you choose. You can buy an annuity, which for most retirees is the best and most secure option. If you have a larger pension fund, you might want to consider other options such as income drawdown or annuity deferment – basically delaying buying an annuity. The amount you will get depends on many factors such as your age, health, location, gender as well as the type of annuity you buy (there are dozens on the market).

Which Annuity is right for me?

The overwhelming majority of retirees opt for standard or ‘level’ lifetime annuities. These pay the same amount in income every year until you die and provide a secure and dependable income. However there are dozens of other options, so here is a brief description of the main ones…

  • Level annuity – Your income remains at the same level until you pass away.
  • Escalating / Inflation-linked annuity – You can peg your annuity income to the RPI inflation rate or a specific amount (e.g 3%).
  • Guaranteed annuity – You can guarantee your income will continue for a specific amount of years after you pass away.
  • Joint-life annuity – Your partner will continue to receive income after you pass away. Can be anything from half to the full amount.
  • Investment-linked / Asset-back annuity – Wealthier retirees often invest in the stock market. Income can go up if the stocks do well, but down if they don’t.
  • Fixed Term Annuity – Also called a flexible annuity, these allow you to invest part of your pension fund for a fixed period.

Which companies may I get annuity quotes from?

We search the market for the best annuity offer which includes companies such as…

Just Retirement, Scottish Life, LV=, MGM Advantage, Skandia, AXA, Standard Life, Hodge Lifetime, Canada Life, Abbey Life, Standard Life, Legal & General, Phoenix Group, Prudential, AEGON, Aviva, Friends Provident and Scottish Widows.