Annuity Rates At Age 50, 55, 60, 65, 70 & 75

 

It is important to think about your retirement plans early on so that you can be sure to obtain the best annuity rates as well as having a clearer idea of your financial situation.

 

An Idea Of Standard Level Annuity Rates
AGE	MALE	FEMALE
55	£5590	£5297
60	£6139	£5647
65	£6813	£6206
70	£7434	£7000
75	£8775	£8151

 

* Please see notes regarding the above table at the bottom of this page

** Annuity rates based on purchase price of £100,000 (after the tax free lump sum has been deducted)

Throughout your working life many people save towards their pension by contributing to a pension fund which often their employer would add to as well. By the time you decide to retire, you will have a pension “pot” which is used to buy an annuity.

An annuity is a guaranteed life income which is paid out to you after you stop working in place of your salary. To get the most for your money, and to be sure you have the finances to achieve your retirement plans, it is vital that you shop around for the best annuity rates.

The rates you get depend on various different factors which contribute towards the estimation of your life expectancy, such as the age you retire or the condition of your health.

The shorter your life expectancy, the higher your rates and the greater the income you receive. This is because the company calculate that by having a shorter life expectancy (or by retiring later on in life) they would not need to pay out for your income for as long as the “average” person.

Therefore annuity rates at age 50, annuity rates at age 60 and annuity rates at age 75 will increase at each stage for both males and females. Doing your research and shopping around will mean you are well informed on the subject, and you can make a better decision on whether you want to settle for your annuity rates at age 65 or whether you want to wait for your annuity rates at age 70.

Knowing your options puts you in a great position to make the most of your retirement money.

 

 

Annuity Table Notes

 

* Last updated 1st May

* Annuity rates based on purchase price of £100,000 (after the tax free lump sum has been deducted)

* Gross income before tax

* Annuity rates table is based on level annuity rates which pay the same income throughout life

* No enhancements are factored into the annuity rates table

* Annuity rates change frequently and the above table is simply a snapshot guide. You should get a free, no obligation annuity quote for accurate figures specific to your own personal circumstances.