Annuity Rates at 66
Finding the right annuity can be difficult, so we're here to simplify the process and provide you with the information you need to make informed decisions about your financial future.
If you're aged 66 and considering an annuity in retirement, the rates below are indicative of what you could be entitled to depending on the features you choose.
Single Life Annuity with a 30 year guarantee
The information in the table below shows the amount of annual income you can expect for the rest of your life if you purchase a single life annuity with a guarantee period of 30 years.
This annuity means that your annuity income will continue to your spouse or nominated beneficiary if you pass away within the 30 year period, but will not if you pass away after the guarantee period.
Purchase Amount
£100,000
Purchase Amount
£200,000
Purchase Amount
£400,000
Purchase Amount
£800,000
Annual Income
£5,927
Annual Income
£11,897
Annual Income
£23,510
Annual Income
£47,063
50% Joint Life Annuity with a 5 year guarantee
The information in the table below shows the amount of annual income you can expect for the rest of your life if you purchase a 50% Joint Life Annuity that also has a 5 year guarantee period.
This means that if you die within the first 5 years of having your annuity be in payment, your partner or spouse will receive your full annuity income for the remainder of the 5 years. For example, if you pass away 3 years into your annuity being paid, your partner will receive the full annuity payments for the remaining 2 years.
As the annuity is also joint, the surviving partner will continue to receive 50% of the annuity income when either of you pass away. Therefore if your partner were to pass away 3 years into the annuity being in payment, you would continue to receive 100% of the annuity payments for the remainder of the guarantee period, and then 50% for the rest of your life.
Purchase Amount
£100,000
Purchase Amount
£200,000
Purchase Amount
£400,000
Purchase Amount
£800,000
Annual Income
£6,432
Annual Income
£13,135
Annual Income
£26,151
Annual Income
£52,298
Single Life 3% Escalating Annuity
The information in the table below shows the amount of annual income you can expect to start with if you purchase a single life annuity which escalates by 3% each year and includes a 30 year guarantee period.
This annuity means that your annuity income will continue to your spouse or nominated beneficiary if you pass away within the 30 year period for the remainder of that period. So, if you were to pass away 20 years into your annuity being paid, your spouse or nominated beneficiary would continue to receive your annuity income for the remaining 10 years. This income will also escalate by 3% each year, meaning that the initial income will be lower than a non-escalating annuity.
Purchase Amount
£100,000
Purchase Amount
£200,000
Purchase Amount
£400,000
Purchase Amount
£800,000
Initial Annual Income
£4,085
Initial Annual Income
£8,199
Initial Annual Income
£16,159
Initial Annual Income
£32,347
50% Joint Life, 3% Escalating Annuity with a 5 year guarantee
The information in the table below shows the amount of annual income you can expect to start with if you purchase a 50% Joint Life annuity which escalates by 3% each year and includes a 5 year guarantee period.
This annuity means that your annuity income will continue to your spouse or nominated beneficiary if you pass away within the 5 year period for the remainder of that period. So, if you were to pass away 2 years into your annuity being paid, your spouse or nominated beneficiary would continue to receive your annuity income for the remaining 3 years. If you or your spouse pass away, the surviving member would continue to receive 50% of the annuity for the rest of their life, regardless of any guarantee period.
This income will also escalate by 3% each year, meaning that the initial income will be lower than a non-escalating annuity.
Purchase Amount
£100,000
Purchase Amount
£200,000
Purchase Amount
£400,000
Purchase Amount
£800,000
Initial Annual Income
£4,684
Initial Annual Income
£9,514
Initial Annual Income
£19,081
Initial Annual Income
£37,185
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