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Right Annuity > Types Of Annuities > Conventional Annuity

Pension Annuity

A conventional annuity is the most common type of pension annuity. It will pay you a guaranteed regular income for the rest of your life, and applies if you’re in good health.

Retirement income

  • Annuity rates for conventional annuities can vary by up to 20% between different insurance companies.
  • We can get you the highest rates available by comparing pension annuity quotes from all companies.
  • How much retirement income you receive can vary depending on where you live.
  • The following tables show examples of the highest annual retirement incomes currently available.
  • Contact one of our advisers today and find out just how much extra retirement income we can get for you.
£50,000 pension fund, after tax-free cash Male aged 65 Female aged 65
Aviva £3,180 £3,012
Canada Life £3,132 £3,000
Legal and General £3,072 £2,880
Hodge Lifetime £3,048 £2,844
Prudential £2,868 £2,676
Standard Life £2,868 £2,676
AEGON Scottish Equitable £2,580 £2,328

 

£75,000 pension fund, after tax-free cash Male aged 65 Female aged 65
Aviva £4,776 £4,536
Canada Life £4,728 £4,524
Legal and General £4,620 £4,344
Hodge Lifetime £4,476 £4,188
Standard Life £4,320 £4,032
Prudential £4,284 £3,972
AEGON Scottish Equitable £3,888 £3,504

 

Joint Life. £50,000 pension fund, after tax-free cash Male 65, Female 63 Male 70, Female 68
Aviva £2,832 £3,228
Canada Life £2,820 £3,228
Legal and General £2,784 £3,156
Hodge Lifetime £2,724 £3,072
Standard Life £2,544 £2,940
Prudential £2,544 £2,880
AEGON Scottish Equitable £2,280 £2,580



The incomes shown are level, with no guarantee period. For the joint life examples a 50% spouse’s pension benefit has been used. Annuity rates are from the FSA’s annuity tables, January, 2012. Figures are for a G15 postcode.

To find out just how much income we can get for you, request a free quote or call us free on 0808 1787 335.

If you have certain medical or lifestyle conditions, even if they are not that serious, you may be entitled to a higher income with an enhanced annuity.

Annuity income

A conventional annuity is a lifetime annuity. It provides a known and secure level of retirement income for the rest of your life, allowing you to easily budget your outgoings against your income. You can choose to have your annuity income (before tax) increase at a fixed rate per year, or in line with the Retail Prices Index (RPI), and help offset the impact of inflation. If you opt for an increasing annuity income your initial income from your conventional annuity will be less.

Annuity options

Your annuity can be tailored to meet your individual requirements. Not only can you choose how to take your income, you can also provide financial protection for your dependants with a guarantee period or a joint life annuity. These options are explained on the annuity options page.

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