Annuity Rates At 65

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Annuity rates at 65 updated: $QUOTEDATE$

Annuity rates can vary significantly between providers so it is important to check the rates available using your right to shop around, known as the ‘open market option’.

Comparing the rates available with the rate offered by your pension company can significantly increase your income in retirement as the rate provided by your pension company may not be the best rate available, even if you have saved with them for a significant period of time.

What affects an annuity rate?

Many factors can alter the annuity rates such as your medical and lifestyle information, Your Age, and your postcode. The type of annuity you buy will also affect the rate, for example whether the annuity will provide an income for yourself or include a dependant, whether it increases with inflation or stays level, and whether you have a guarantee period.

Annuity rates are also affected more generally with regards to other factors such as the value of government bonds, or gilts, which insurance companies buy to fund annuities.

The Bank of England base rate, which has an influence of the level of interest the government will pay on its bonds. Demand for gilts - when they are in high demand, interest payments fall, depressing annuity rates. When they are in low demand, rates may rise.

Other monetary policy - quantitative easing (QE) has also affected annuity rates, as this pushes gilt yields down further, as the purchase of gilts in mass quantity by the Bank of England has reduced interest payments.

Example Annuity Rates updated on $QUOTEDATE$

We have included current annuity rates to provide some examples of what is available. The rates quoted are for a monthly annuity payable in arrears and do not include a dependents pension which might be important for you to consider. The companies we have quoted from include Legal and General, MGM Advantage, Reliance Mutual, Partnership, LV=, Canada Life, Prudential, Standard Life, Aviva, Just Retirement, Scottish Widows, Friends Life and Hodge Lifetime.

Typical Annuity Rates At Age 65 For £25,000


Pension Fund £25,000Age 65 HealthyAge 65 SmokerAge 65 After A Heart Attack
Level, No GuaranteeN/AN/AN/A
Level 5 Year GuaranteeN/AN/AN/A
RPI Linked - No GuaranteeN/AN/AN/A
RPI Linked - 5 Year GuaranteeN/AN/AN/A
Last Updated: $QUOTEDATE$ (Source: PayingTooMuch.com)

Typical Annuity Rates At Age 65 For £50,000


Pension Fund £50,000Age 65 HealthyAge 65 SmokerAge 65 After A Heart Attack
Level, No GuaranteeN/AN/AN/A
Level 5 Year GuaranteeN/AN/AN/A
RPI Linked - No GuaranteeN/AN/AN/A
RPI Linked - 5 Year GuaranteeN/AN/AN/A
Last Updated: $QUOTEDATE$ (Source: PayingTooMuch.com)