Best Annuity Rates UK

Annuities are financial products designed to convert your pension pot or retirement savings into a steady stream of guaranteed income, either for the rest of your life or for a fixed term. When you buy an annuity, you exchange a lump sum—usually built up through your pension—for a predictable source of funds known as annuity income.

This regular income can be paid monthly, quarterly, or annually, depending on the product. It provides security by ensuring that you continue to receive money throughout retirement, regardless of how long you live.

The amount of retirement income you receive depends on the annuity rates available at the time of purchase. These are shaped by interest rates, gilt yields, your life expectancy, and the annuity options you select. Understanding how annuities work and the choices available helps ensure you get the best annuity rates UK retirees can access.

Age	Annual Increases	Guarantee Period	Single-life	Single-Life 100% Value Protected	Joint-life 50% Spouse's	Joint-life 100% Spouse's
55	Level	None	3260.76	3226.32	3105.96	3013.08
55	Level	5 Years	3259.2	N/A	3105.24	3013.08
55	Level	10 Years	3252.96	N/A	3102.24	3013.08
55	2.50%	None	2408.88	2375.88	2252.52	2154.12
55	2.50%	5 Years	2407.92	N/A	2252.16	2154.12
55	2.50%	10 Years	2403.84	N/A	2250.24	2154.12
55	3%	None	2252.28	2219.76	2096.88	1998.48
55	3%	5 Years	2251.44	N/A	2096.52	1998.48
55	3%	10 Years	2247.72	N/A	2094.84	1998.48
55	5%	None	1680.36	1650.24	1533.6	1439.28
55	5%	5 Years	1679.88	N/A	1533.36	1439.28
55	5%	10 Years	1677.48	N/A	1532.4	1439.28
55	RPI	None	2051.04	2019.6	1898.4	1801.08
55	RPI	5 Years	2050.44	N/A	1898.04	1801.08
55	RPI	10 Years	2047.2	N/A	1896.6	1801.08
56	Level	None	3288.36	3252.84	3140.28	3043.44
56	Level	5 Years	3286.8	N/A	3139.56	3043.44
56	Level	10 Years	3280.2	N/A	3136.2	3043.32
56	2.50%	None	2441.04	2407.08	2291.88	2189.88
56	2.50%	5 Years	2440.2	N/A	2291.4	2189.88
56	2.50%	10 Years	2435.88	N/A	2289.36	2189.88
56	3%	None	2285.28	2251.68	2136.96	2034.96
56	3%	5 Years	2284.44	N/A	2136.48	2034.96
56	3%	10 Years	2280.6	N/A	2134.68	2034.96
56	5%	None	1715.4	1684.08	1575.12	1477.56
56	5%	5 Years	1714.8	N/A	1574.88	1477.56
56	5%	10 Years	1712.28	N/A	1573.68	1477.44
56	RPI	None	2084.76	2052.12	1939.08	1838.4
56	RPI	5 Years	2084.16	N/A	1938.72	1838.4
56	RPI	10 Years	2080.68	N/A	1937.16	1838.28
57	Level	None	3318.84	3281.76	3175.2	3074.28
57	Level	5 Years	3317.16	N/A	3174.36	3074.28
57	Level	10 Years	3310.2	N/A	3170.64	3074.28
57	2.50%	None	2476.32	2440.8	2332.08	2226.48
57	2.50%	5 Years	2475.36	N/A	2331.48	2226.48
57	2.50%	10 Years	2470.68	N/A	2329.2	2226.48
57	3%	None	2321.28	2286.24	2178	2072.4
57	3%	5 Years	2320.32	N/A	2177.52	2072.4
57	3%	10 Years	2316.24	N/A	2175.36	2072.28
57	5%	None	1753.32	1720.68	1617.72	1516.68
57	5%	5 Years	1752.72	N/A	1617.48	1516.68
57	5%	10 Years	1750.08	N/A	1616.04	1516.56
57	RPI	None	2121.48	2087.4	1980.72	1876.44
57	RPI	5 Years	2120.76	N/A	1980.24	1876.44
57	RPI	10 Years	2117.04	N/A	1978.56	1876.44
58	Level	None	3352.56	3313.56	3211.92	3106.32
58	Level	5 Years	3350.64	N/A	3210.96	3106.2
58	Level	10 Years	3343.32	N/A	3206.88	3106.2
58	2.50%	None	2515.2	2477.76	2374.2	2264.04
58	2.50%	5 Years	2514.12	N/A	2373.6	2264.04
58	2.50%	10 Years	2509.08	N/A	2370.96	2263.92
58	3%	None	2360.88	2324.04	2220.96	2110.92
58	3%	5 Years	2359.92	N/A	2220.36	2110.92
58	3%	10 Years	2355.48	N/A	2217.96	2110.8
58	5%	None	1795.08	1760.52	1662.36	1557
58	5%	5 Years	1794.48	N/A	1662.12	1557
58	5%	10 Years	1791.36	N/A	1660.68	1557
58	RPI	None	2161.8	2125.8	2024.28	1915.8
58	RPI	5 Years	2160.96	N/A	2023.8	1915.8
58	RPI	10 Years	2156.88	N/A	2021.76	1915.68
59	Level	None	3390	3348.36	3249.48	3138.72
59	Level	5 Years	3388.08	N/A	3248.4	3138.72
59	Level	10 Years	3380.04	N/A	3243.84	3138.72
59	2.50%	None	2558.04	2517.96	2417.4	2302.44
59	2.50%	5 Years	2556.84	N/A	2416.68	2302.44
59	2.50%	10 Years	2551.2	N/A	2413.68	2302.44
59	3%	None	2404.56	2364.96	2264.88	2150.28
59	3%	5 Years	2403.48	N/A	2264.28	2150.28
59	3%	10 Years	2398.32	N/A	2261.52	2150.16
59	5%	None	1840.8	1803.6	1708.32	1598.52
59	5%	5 Years	1840.08	N/A	1707.96	1598.52
59	5%	10 Years	1836.6	N/A	1706.16	1598.52
59	RPI	None	2206.08	2167.44	2068.92	1955.88
59	RPI	5 Years	2205.24	N/A	2068.44	1955.88
59	RPI	10 Years	2200.68	N/A	2066.04	1955.88
60	Level	None	3432.24	3386.88	3288.24	3171.96
60	Level	5 Years	3430.08	N/A	3287.04	3171.96
60	Level	10 Years	3421.08	N/A	3281.88	3171.96
60	2.50%	None	2605.56	2561.88	2461.68	2341.8
60	2.50%	5 Years	2604.24	N/A	2460.96	2341.8
60	2.50%	10 Years	2598	N/A	2457.48	2341.8
60	3%	None	2453.04	2409.96	2310	2190.48
60	3%	5 Years	2451.84	N/A	2309.4	2190.48
60	3%	10 Years	2446.08	N/A	2306.28	2190.48
60	5%	None	1891.32	1850.76	1755.48	1641.12
60	5%	5 Years	1890.6	N/A	1755.12	1641.12
60	5%	10 Years	1886.64	N/A	1752.96	1641
60	RPI	None	2255.28	2213.04	2114.64	1996.92
60	RPI	5 Years	2254.2	N/A	2114.16	1996.92
60	RPI	10 Years	2249.04	N/A	2111.4	1996.92
61	Level	None	3471.24	3420	3324.6	3202.08
61	Level	5 Years	3468.72	N/A	3323.28	3201.96
61	Level	10 Years	3458.16	N/A	3317.4	3201.84
61	2.50%	None	2651.4	2602.08	2504.4	2378.76
61	2.50%	5 Years	2649.84	N/A	2503.56	2378.76
61	2.50%	10 Years	2642.4	N/A	2499.6	2378.64
61	3%	None	2499.84	2451.12	2353.8	2228.52
61	3%	5 Years	2498.52	N/A	2353.08	2228.52
61	3%	10 Years	2491.8	N/A	2349.36	2228.52
61	5%	None	1941.36	1895.52	1801.92	1682.16
61	5%	5 Years	1940.4	N/A	1801.44	1682.16
61	5%	10 Years	1935.72	N/A	1799.04	1682.16
61	RPI	None	2303.04	2255.4	2159.4	2036.04
61	RPI	5 Years	2301.84	N/A	2158.8	2036.04
61	RPI	10 Years	2295.72	N/A	2155.56	2035.92
62	Level	None	3515.64	3456.84	3369.84	3234.6
62	Level	5 Years	3512.64	N/A	3367.08	3234.6
62	Level	10 Years	3500.16	N/A	3357.24	3234.36
62	2.50%	None	2702.76	2646.12	2550	2418.24
62	2.50%	5 Years	2700.84	N/A	2549.04	2418.24
62	2.50%	10 Years	2691.96	N/A	2544.48	2418.12
62	3%	None	2552.4	2496.48	2400.36	2269.08
62	3%	5 Years	2550.72	N/A	2399.52	2269.08
62	3%	10 Years	2542.56	N/A	2395.2	2268.96
62	5%	None	1996.8	1944.12	1851.24	1725.72
62	5%	5 Years	1995.72	N/A	1850.64	1725.72
62	5%	10 Years	1990.08	N/A	1847.76	1725.72
62	RPI	None	2356.32	2301.6	2206.68	2077.56
62	RPI	5 Years	2354.88	N/A	2205.96	2077.56
62	RPI	10 Years	2347.56	N/A	2202.12	2077.44
63	Level	None	3576.72	3501.84	3431.16	3274.68
63	Level	5 Years	3570.6	N/A	3427.92	3274.56
63	Level	10 Years	3549	N/A	3416.52	3274.08
63	2.50%	None	2758.68	2693.4	2598.48	2459.88
63	2.50%	5 Years	2756.52	N/A	2597.28	2459.88
63	2.50%	10 Years	2745.84	N/A	2592	2459.76
63	3%	None	2609.4	2544.84	2449.8	2311.92
63	3%	5 Years	2607.36	N/A	2448.84	2311.92
63	3%	10 Years	2597.52	N/A	2443.8	2311.8
63	5%	None	2056.92	1996.08	1903.08	1771.44
63	5%	5 Years	2055.6	N/A	1902.36	1771.44
63	5%	10 Years	2048.52	N/A	1899	1771.32
63	RPI	None	2414.28	2351.04	2256.84	2121.24
63	RPI	5 Years	2412.48	N/A	2256	2121.24
63	RPI	10 Years	2403.48	N/A	2251.56	2121.12
64	Level	None	3651.72	3562.8	3498.84	3328.68
64	Level	5 Years	3644.04	N/A	3495	3328.56
64	Level	10 Years	3617.28	N/A	3481.44	3327.96
64	2.50%	None	2816.76	2741.52	2654.64	2504.4
64	2.50%	5 Years	2814.12	N/A	2652.24	2504.4
64	2.50%	10 Years	2801.16	N/A	2642.88	2504.16
64	3%	None	2668.68	2594.16	2502.24	2357.52
64	3%	5 Years	2666.16	N/A	2501.16	2357.4
64	3%	10 Years	2654.04	N/A	2495.28	2357.28
64	5%	None	2119.08	2049	1958.04	1819.92
64	5%	5 Years	2117.52	N/A	1957.32	1819.92
64	5%	10 Years	2108.76	N/A	1953.24	1819.8
64	RPI	None	2474.04	2401.44	2310	2167.68
64	RPI	5 Years	2471.88	N/A	2309.04	2167.56
64	RPI	10 Years	2461.08	N/A	2303.76	2167.44
65	Level	None	3734.4	3629.16	3573.96	3385.32
65	Level	5 Years	3724.8	N/A	3569.28	3385.32
65	Level	10 Years	3691.68	N/A	3552.84	3384.36
65	2.50%	None	2897.16	2798.28	2733.6	2551.68
65	2.50%	5 Years	2891.04	N/A	2730.6	2551.68
65	2.50%	10 Years	2867.04	N/A	2719.08	2551.44
65	3%	None	2742	2644.68	2578.68	2405.88
65	3%	5 Years	2736.36	N/A	2576.04	2405.76
65	3%	10 Years	2714.16	N/A	2565.36	2405.64
65	5%	None	2178.24	2098.44	2016.48	1871.04
65	5%	5 Years	2176.2	N/A	2015.64	1871.04
65	5%	10 Years	2165.64	N/A	2010.72	1870.92
65	RPI	None	2530.68	2448.24	2366.64	2216.76
65	RPI	5 Years	2528.16	N/A	2365.44	2216.76
65	RPI	10 Years	2515.08	N/A	2359.32	2216.52
66	Level	None	3800.28	3685.32	3622.2	3423.48
66	Level	5 Years	3789.72	N/A	3616.92	3423.36
66	Level	10 Years	3752.16	N/A	3597.96	3422.16
66	2.50%	None	2966.76	2858.28	2788.08	2594.88
66	2.50%	5 Years	2959.8	N/A	2784.72	2594.88
66	2.50%	10 Years	2932.32	N/A	2771.28	2594.04
66	3%	None	2811.96	2705.04	2634.12	2443.32
66	3%	5 Years	2805.6	N/A	2631.12	2443.2
66	3%	10 Years	2780.04	N/A	2618.64	2442.48
66	5%	None	2250.84	2137.68	2066.28	1902.96
66	5%	5 Years	2245.44	N/A	2064.24	1902.96
66	5%	10 Years	2222.64	N/A	2055.48	1902.84
66	RPI	None	2588.04	2477.28	2405.76	2244.72
66	RPI	5 Years	2581.32	N/A	2403.12	2244.6
66	RPI	10 Years	2553.96	N/A	2393.64	2244.36
67	Level	None	3871.32	3744.84	3676.68	3465.96
67	Level	5 Years	3859.44	N/A	3670.56	3465.84
67	Level	10 Years	3816.48	N/A	3648.48	3464.28
67	2.50%	None	3041.28	2921.52	2848.68	2644.92
67	2.50%	5 Years	3033.36	N/A	2844.72	2644.8
67	2.50%	10 Years	3001.56	N/A	2828.76	2643.72
67	3%	None	2886.84	2768.88	2695.68	2494.44
67	3%	5 Years	2879.64	N/A	2692.08	2494.32
67	3%	10 Years	2849.88	N/A	2677.32	2493.36
67	5%	None	2322.24	2202	2129.88	1956.72
67	5%	5 Years	2316	N/A	2127.48	1956.6
67	5%	10 Years	2289.12	N/A	2116.8	1955.64
67	RPI	None	2660.16	2541.48	2468.28	2275.56
67	RPI	5 Years	2652.48	N/A	2465.28	2275.44
67	RPI	10 Years	2623.8	N/A	2452.08	2274.84
68	Level	None	3958.8	3815.76	3737.16	3513.24
68	Level	5 Years	3944.88	N/A	3730.08	3513.12
68	Level	10 Years	3894	N/A	3703.92	3510.96
68	2.50%	None	3132.24	2996.64	2915.04	2699.52
68	2.50%	5 Years	3122.88	N/A	2910.48	2699.52
68	2.50%	10 Years	3084.6	N/A	2891.28	2697.96
68	3%	None	2978.16	2844.36	2762.88	2550.24
68	3%	5 Years	2969.64	N/A	2758.68	2550.12
68	3%	10 Years	2933.64	N/A	2740.92	2548.68
68	5%	None	2405.28	2278.08	2199	2019
68	5%	5 Years	2397.84	N/A	2196.12	2018.88
68	5%	10 Years	2370.12	N/A	2183.16	2017.56
68	RPI	None	2748.24	2617.56	2536.56	2337.72
68	RPI	5 Years	2740.68	N/A	2532.96	2337.6
68	RPI	10 Years	2708.4	N/A	2517	2336.04
69	Level	None	4052.76	3890.76	3804.84	3563.76
69	Level	5 Years	4036.32	N/A	3796.44	3565.08
69	Level	10 Years	3975.72	N/A	3702.72	3562.2
69	2.50%	None	3229.56	3075.72	2988.48	2758.92
69	2.50%	5 Years	3138.84	N/A	2982.96	2758.68
69	2.50%	10 Years	3172.08	N/A	2959.8	2756.64
69	3%	None	3075.72	2923.92	2837.04	2610.6
69	3%	5 Years	3065.4	N/A	2832	2610.48
69	3%	10 Years	3021.84	N/A	2810.4	2608.56
69	5%	None	2500.44	2358.12	2274.84	2076.72
69	5%	5 Years	2493.12	N/A	2271.36	2076.6
69	5%	10 Years	2459.88	N/A	2255.28	2074.92
69	RPI	None	2845.92	2697.6	2611.68	2390.64
69	RPI	5 Years	2836.92	N/A	2607.24	2390.64
69	RPI	10 Years	2797.44	N/A	2587.8	2388.84
70	Level	None	4154.28	3970.32	3880.92	3641.4
70	Level	5 Years	4134.6	N/A	3870.96	3640.56
70	Level	10 Years	4062.12	N/A	3833.04	3631.8
70	2.50%	None	3334.2	3159.36	3069.96	2823.48
70	2.50%	5 Years	3320.64	N/A	3063.24	2823.24
70	2.50%	10 Years	3264.48	N/A	3034.8	2820.36
70	3%	None	3180.6	3008.04	2919.36	2676.24
70	3%	5 Years	3168.12	N/A	2913.12	2676
70	3%	10 Years	3115.08	N/A	2886.48	2673.36
70	5%	None	2604.84	2442.72	2358.36	2149.68
70	5%	5 Years	2595.84	N/A	2354.04	2149.32
70	5%	10 Years	2554.8	N/A	2334	2144.64
70	RPI	None	2950.92	2782.08	2694.72	2458.56
70	RPI	5 Years	2939.88	N/A	2689.32	2458.44
70	RPI	10 Years	2891.64	N/A	2665.2	2455.56
71	Level	None	4213.32	4002.48	3942.48	3671.52
71	Level	5 Years	4190.52	N/A	3930.6	3670.44
71	Level	10 Years	4105.08	N/A	3885	3659.64
71	2.50%	None	3400.2	3199.56	3138.72	2875.2
71	2.50%	5 Years	3384.12	N/A	3130.56	2874.96
71	2.50%	10 Years	3317.28	N/A	3095.88	2871
71	3%	None	3247.68	3049.68	2989.08	2731.32
71	3%	5 Years	3232.92	N/A	2981.64	2731.08
71	3%	10 Years	3169.56	N/A	2949	2726.88
71	5%	None	2680.56	2488.92	2431.2	2232.12
71	5%	5 Years	2667.72	N/A	2425.92	2231.64
71	5%	10 Years	2614.8	N/A	2400.96	2225.16
71	RPI	None	3019.56	2825.64	2765.88	2581.08
71	RPI	5 Years	3006.48	N/A	2759.4	2580.36
71	RPI	10 Years	2948.52	N/A	2729.76	2572.68
72	Level	None	4281.36	4039.2	4010.64	3762.6
72	Level	5 Years	4254.48	N/A	3996.36	3761.16
72	Level	10 Years	4153.32	N/A	3941.52	3745.2
72	2.50%	None	3474.6	3244.08	3213.6	2943.84
72	2.50%	5 Years	3455.52	N/A	3203.76	2943.36
72	2.50%	10 Years	3375.48	N/A	3161.4	2937.6
72	3%	None	3323.16	3095.52	3064.92	2811.96
72	3%	5 Years	3305.4	N/A	3055.92	2811
72	3%	10 Years	3229.44	N/A	3015.96	2803.08
72	5%	None	2787.84	2551.08	2522.76	2306.64
72	5%	5 Years	2772.24	N/A	2516.28	2325.6
72	5%	10 Years	2705.52	N/A	2486.04	2316.48
72	RPI	None	3116.4	2873.52	2867.52	2674.44
72	RPI	5 Years	3097.68	N/A	2857.8	2673.48
72	RPI	10 Years	3021.72	N/A	2814.6	2662.68
73	Level	None	4372.8	4088.28	4087.08	3852.12
73	Level	5 Years	4337.52	N/A	4070.04	3850.08
73	Level	10 Years	4215.48	N/A	4003.8	3828.84
73	2.50%	None	3569.16	3300.96	3296.4	3032.64
73	2.50%	5 Years	3545.76	N/A	3284.52	3031.32
73	2.50%	10 Years	3447.84	N/A	3232.8	3014.76
73	3%	None	3418.68	3153.6	3148.8	2903.16
73	3%	5 Years	3396.84	N/A	3137.76	2901.84
73	3%	10 Years	3303.6	N/A	3088.8	2886.12
73	5%	None	2879.76	2612.16	2609.76	2418.12
73	5%	5 Years	2860.92	N/A	2600.28	2417.16
73	5%	10 Years	2781	N/A	2555.64	2404.56
73	RPI	None	3207.12	2933.4	2967.84	2765.52
73	RPI	5 Years	3184.8	N/A	2956.08	2764.32
73	RPI	10 Years	3094.44	N/A	2902.92	2749.44
74	Level	None	4524.72	4143	4211.64	3960.72
74	Level	5 Years	4473	N/A	4187.64	3957.96
74	Level	10 Years	4297.8	N/A	4093.44	3928.32
74	2.50%	None	3677.28	3363.24	3389.16	3141.96
74	2.50%	5 Years	3646.56	N/A	3374.64	3139.92
74	2.50%	10 Years	3526.56	N/A	3310.92	3116.64
74	3%	None	3538.44	3217.2	3242.4	3012.84
74	3%	5 Years	3508.08	N/A	3228.96	3011.04
74	3%	10 Years	3390.84	N/A	3168.36	2988.72
74	5%	None	3012.36	2710.2	2735.52	2528.4
74	5%	5 Years	2989.2	N/A	2723.4	2526.96
74	5%	10 Years	2890.92	N/A	2664.12	2508.84
74	RPI	None	3341.28	3032.52	3093.72	2875.2
74	RPI	5 Years	3313.92	N/A	3078.84	2873.4
74	RPI	10 Years	3203.76	N/A	3010.56	2852.28
75	Level	None	4662.12	4216.44	4332.24	4067.88
75	Level	5 Years	4599.84	N/A	4303.2	4064.16
75	Level	10 Years	4391.64	N/A	4188.48	4024.2
75	2.50%	None	3817.68	3455.4	3493.08	3249.36
75	2.50%	5 Years	3779.04	N/A	3475.08	3246.6
75	2.50%	10 Years	3633.12	N/A	3396.24	3214.8
75	3%	None	3678.84	3321.24	3355.32	3120.6
75	3%	5 Years	3642.36	N/A	3335.64	3118.08
75	3%	10 Years	3501.84	N/A	3258.48	3087.6
75	5%	None	3151.56	2814.84	2854.32	2636.52
75	5%	5 Years	3123.24	N/A	2839.2	2634.6
75	5%	10 Years	3003.96	N/A	2765.04	2609.4
75	RPI	None	3473.64	3128.88	3212.52	2982.84
75	RPI	5 Years	3440.64	N/A	3194.16	2980.44
75	RPI	10 Years	3308.28	N/A	3109.56	2951.4
76	Level	None	4843.56	4328.16	4485.24	4198.56
76	Level	5 Years	4766.16	N/A	4448.76	4193.28
76	Level	10 Years	4509.84	N/A	4304.4	4138.08
76	2.50%	None	3970.92	3562.32	3638.16	3379.56
76	2.50%	5 Years	3923.76	N/A	3611.52	3375.72
76	2.50%	10 Years	3746.88	N/A	3499.8	3330.96
76	3%	None	3832.32	3429	3505.68	3251.16
76	3%	5 Years	3787.8	N/A	3480.6	3247.56
76	3%	10 Years	3616.92	N/A	3366.96	3204.72
76	5%	None	3305.16	2924.16	3003.6	2767.2
76	5%	5 Years	3270	N/A	2984.16	2764.44
76	5%	10 Years	3123.12	N/A	2887.68	2728.32
76	RPI	None	3628.68	3239.4	3362.16	3113.04
76	RPI	5 Years	3588.12	N/A	3338.64	3109.68
76	RPI	10 Years	3426.24	N/A	3229.8	3068.64
77	Level	None	5048.16	4449.72	4656.96	4344.96
77	Level	5 Years	4950.36	N/A	4610.64	4337.28
77	Level	10 Years	4633.8	N/A	4427.76	4260.84
77	2.50%	None	4143.84	3679.44	3806.28	3524.64
77	2.50%	5 Years	4077.96	N/A	3771.84	3519
77	2.50%	10 Years	3865.32	N/A	3620.16	3456.24
77	3%	None	4007.04	3546.24	3673.8	3396.72
77	3%	5 Years	3942.24	N/A	3641.28	3391.32
77	3%	10 Years	3736.32	N/A	3494.64	3330.72
77	5%	None	3484.44	3041.4	3170.52	2912.64
77	5%	5 Years	3428.4	N/A	3144.84	2908.44
77	5%	10 Years	3245.16	N/A	3018.6	2856.72
77	RPI	None	3783.36	3347.04	3529.56	3258.12
77	RPI	5 Years	3734.04	N/A	3498.96	3253.08
77	RPI	10 Years	3538.68	N/A	3358.08	3195
78	Level	None	5280.12	4581.36	4850.76	4509.48
78	Level	5 Years	5154.12	N/A	4790.64	4498.2
78	Level	10 Years	4762.44	N/A	4557.96	4392.12
78	2.50%	None	4366.92	3791.04	3995.16	3687
78	2.50%	5 Years	4270.68	N/A	3949.8	3678.6
78	2.50%	10 Years	3977.52	N/A	3753.84	3590.16
78	3%	None	4229.52	3658.56	3862.56	3559.32
78	3%	5 Years	4137.96	N/A	3819.6	3551.28
78	3%	10 Years	3849.72	N/A	3629.64	3465.72
78	5%	None	3703.92	3155.04	3357.6	3074.76
78	5%	5 Years	3629.4	N/A	3323.16	3068.4
78	5%	10 Years	3362.88	N/A	3157.2	2994.36
78	RPI	None	3960	3461.52	3717.36	3420.12
78	RPI	5 Years	3891.6	N/A	3676.68	3412.68
78	RPI	10 Years	3654.72	N/A	3493.56	3330.36
79	Level	None	5541.24	4724.4	5068.08	4693.44
79	Level	5 Years	5378.04	N/A	4989.36	4676.88
79	Level	10 Years	4893.84	N/A	4693.32	4530.6
79	2.50%	None	4617.6	3910.8	4206.48	3867.96
79	2.50%	5 Years	4491	N/A	4146.24	3855.36
79	2.50%	10 Years	4092.84	N/A	3893.16	3731.52
79	3%	None	4479.72	3778.8	4073.76	3740.4
79	3%	5 Years	4358.76	N/A	4016.4	3728.4
79	3%	10 Years	3966.48	N/A	3770.28	3608.28
79	5%	None	3950.64	3276.6	3566.76	3255.24
79	5%	5 Years	3850.92	N/A	3520.08	3245.52
79	5%	10 Years	3484.68	N/A	3302.16	3140.16
79	RPI	None	4201.2	3584.16	3927.36	3600.6
79	RPI	5 Years	4089.6	N/A	3873	3589.2
79	RPI	10 Years	3774.12	N/A	3634.8	3473.28
80	Level	None	5835.96	4879.8	5312.28	4899.72
80	Level	5 Years	5623.56	N/A	5208.6	4875.24
80	Level	10 Years	5026.44	N/A	4832.28	4674.96
80	2.50%	None	4900.2	4039.32	4443.48	4070.16
80	2.50%	5 Years	4732.92	N/A	4362.72	4051.08
80	2.50%	10 Years	4210.44	N/A	4036.44	3879.24
80	3%	None	4761.72	3907.92	4310.52	3942.6
80	3%	5 Years	4601.4	N/A	4233.36	3924.6
80	3%	10 Years	4089.72	N/A	3915	3757.2
80	5%	None	4228.8	3407.04	3801.12	3456.6
80	5%	5 Years	4094.76	N/A	3737.64	3441.84
80	5%	10 Years	3629.4	N/A	3451.8	3292.92
80	RPI	None	4473.12	3715.68	4162.68	3801.96
80	RPI	5 Years	4324.68	N/A	4089.48	3784.8
80	RPI	10 Years	3896.04	N/A	3780.36	3622.68

Understanding Annuity Rates in the UK

An annuity turns your pension savings into a stream of regular payments. The pension annuity rates you are offered depend on your age, health, pension provider, and wider market factors such as rising interest rates and the performance of the stock market.

Annuity rates are calculated by providers using both financial markets and your personal circumstances. They assess details such as age, postcode, and medical history to calculate life expectancy, which directly affects the income offered.

What Are Annuity Rates?

An annuity rate shows how much income you will receive in exchange for your pension fund. For example, a rate of 6% would mean £6,000 annual income from a £100,000 lump sum.

Some pension plans include guaranteed annuity rates (GARs), which promise a fixed amount of income regardless of the latest annuity rates. It’s always worth checking if your pension includes this option.

Rates differ across annuity providers and products. Your individual circumstances—including life expectancy, lifestyle, and health—can affect the actual rate you are offered. For example:

Enhanced annuities may provide higher income if you are in poor health.
Enhanced annuity rates are often available to those with conditions such as diabetes or high blood pressure.
In general, the lower your rate, the longer you are expected to live, which reduces the annual payout.

A single life annuity pays income only to one person, while a joint life annuity continues payments to a partner. If both are the same age, this may affect the terms offered.

To see average annuity rates across different ages, visit our [Annuity Rate Tables by Age] page.

Factors That Influence Annuity Rates

An annuity provides regular income in retirement, but the pension annuity rates you receive depend on several factors:

Age – Older retirees are usually offered higher rates.
Health and Lifestyle – Smoking, diabetes, or other conditions can qualify you for an enhanced annuity.
Pension Pot Size – A larger pension fund provides more flexibility and choice.
Type of Annuity – Options include lifetime annuity, fixed term annuity, joint life annuity, and escalating annuity.
Market Conditions – Government bonds (gilts), interest rates, and the stock market all affect income levels. Because the government pays interest on gilts, the yields directly influence annuity pricing.

How Are Annuity Rates Calculated?

Annuity rates are calculated by providers using both personal data and financial conditions.

A larger pension pot usually generates more income.
Your age and life expectancy are key factors—the shorter your expected lifespan, the higher the annuity rate.
Health and lifestyle can qualify you for enhanced annuity rates, providing much income relative to standard products.
The type of annuity chosen—single life, joint life, fixed term, or level annuity—affects the calculation.
Other factors, such as inflation protection or the option to add death benefits, may also reduce the starting income.

Many of the UK’s leading annuity providers also offer online tools, such as an annuity calculator, to help you estimate how much annuity income you could receive.

Types of Annuities Available in the UK

Common annuity options include:

Lifetime Annuities – Guarantee income for the rest of your life.
Fixed-Term Annuities – Pay a fixed amount for an agreed number of years.
Enhanced or Impaired Life Annuities – Provide higher income if health reduces life expectancy.
Joint Life Annuities – Ensure regular payments continue to a partner.
Death Benefits – Some annuities allow you to add death benefits, providing a lump sum or ongoing income to beneficiaries.
Escalating or Inflation-Linked Annuities – Income rises each year, often by a certain percentage or in line with inflation.
Level Annuities – Provide level income that does not change over time.

Annuity Providers and Fees

The UK market includes a wide range of annuity providers, such as Canada Life, Standard Life, and other UK providers. Each offers different features, such as enhanced annuities, joint life annuities, or products with death benefits.

When you buy an annuity, be aware of fees that may apply. These could include:

Provider administration charges.
Fees from a financial adviser who helps arrange the annuity.

Even small costs can affect your best income over the rest of your life, so it’s worth comparing.

Inflation and Annuity Rates

Inflation reduces the purchasing power of money over time. With a level annuity, you receive the same level income each year, but rising costs may erode its value.

Alternatives include:

Escalating annuities – Payments rise by a certain percentage annually.
Inflation-linked annuities – Income increases in line with official inflation measures.

These usually start with lower payments but may provide the best annuity choice for long-term planning.

Why Comparing Rates Matters

Annuities are generally a permanent decision. Once purchased, they cannot easily be changed. This makes comparing the latest annuity rates across providers essential.

Even a small variation in pension annuity rates can lead to thousands of pounds more or less in retirement income. Exploring options across the UK’s leading annuity providers helps ensure your retirement savings deliver the best annuity rates for your circumstances.

Remember that most annuity payments are taxable, so you may need to pay tax on the income you receive.