Current Annuity Rates

Finding current annuity rates can be done in a number of ways such as examining annuity tables or by speaking to an annuity specialist such as ourselves. However there a few things you need to consider when looking at current rates for annuities. Firstly using an annuity table only offers you an illustrative overview of the rates on offer from each provider, meaning they may not necessarily offer the best deal to suit your own personal circumstances. Also comparing annuity rates is not like comparing loan interest rates or car insurance quotes because an annuity is devised on an individual basis. Therefore you can only compare providers once you have submitted detailed information about your own personal circumstances including your age, fund size, location and state of health. So although you may see one provider having higher annuity rates than another, remember these are illustrative rates only based on a benchmark of a 65 year old male with a £100,000 pension fund.

Another point to note is that using an annuity table to find a snapshot of the best current annuity rates may not take into account other products such as enhanced annuities or joint-life annuities. Enhanced annuities pay a higher income compared with standard annuities, but you can only check if you are eligible for these by speaking to an annuity specialist or an IFA. Moreover not all insurance companies offer enhanced annuities so it is important to compare the market before you go ahead and buy an annuity. Even if you have a list of the best enhanced rates using an annuity table, you can only really be certain of the best rates by shopping around. It has been estimated that up to 70% of retirees could be eligible for enhanced annuities despite only 10% of all annuities sold coming with enhancements.

If you do wish to find what the latest annuity rates are, try the FSA’s own website where you can see rates from several providers. However remember not all annuity providers disclose their rates, only ‘open market’ providers do this.

Annuity City is an independent marketing website that acts as an annuity introducer to a company of Independent Financial Advisors. That company is authorised and regulated by the Financial Services Authority. Annuity City do not and cannot offer any financial advice provided by, or obtained through a third party. The information contained within this site is of general interest and should not be interpreted as financial advice.