Annuity Calculator UK
Up to 40% of people qualify for enhanced annuity rates and using the Annuity Calculator UK pension annuities calculator will help you find the best annuity rates from the open market. Many people automatically assume when they retire that their pension will start paying out, this is not the case you have to exchange your pension fund for an annuity.
Annuity Calculator UK - Get a Bigger Retirement income
Using our annuity calculator UK you could see for yourself if you can get a better annuity rate than your existing provider is giving.
Everyone has the right to shop around for a better rate on their annuity, it's called the Open Market Option (OMO). Worryingly, figures from the Association of British Insurers (ABI) show that 61 per cent of people who bought an annuity in 2007 did not shop around in this way.
Do you qualify for Enhanced Annuity Rates?
Use our annuity calculator UK to see if you qualify for enhanced annuities. If you can answer Yes to the following questions you may qualify for enhanced annuity rates.
- Do you smoke 10 cigarettes or more each day and have done continuously for 10 years or more?
- Are you currently taking any medication?
- Have you ever been hospitalised for any medical condition?
Medical conditions do not just affect annuities, they also affect your ability to get life insurance at ordinary rates. Our recommended website to get medical conditions insurance and from the whole market.
Pension Annuities Calculator
Our IFA's will use a pension annuity calculator to see if you can get better annuity rates than your existing pension provider is offering. You may find out that you qualify for an enhanced annuity rate by using the annuities calculator UK. There are significant differences in the performance of the best and worst pension annuities rates and the advice of an independent financial adviser (IFA) should be sought to ensure you get the best annuity rate.
Annuity Calculator UK Explained
You convert your pension fund into a regular income that will last as long as you live. The income is taxable and the amount that you get each year will depend on the size of your fund, the rates the annuity company offers, your gender, age and health, and the type of annuity that you opt for. You are allowed to take up to a quarter of your pension fund as a tax-free lump sum and most convert all of your remaining pension fund into an annuity before the age of 75. Use our annuities calculator to see what rate you can get.