Annuity Calculator
An annuity calculator can help you converting your pension fund into you retirement income. This income will be for the rest of your life and is one of the most important financial decisions you will ever take in your life.
We recommend that you consult an Independent Financial Advisor who will research the entire annuity market and recommend the right options and right annuity for you. The annuity calculator on this page is used to get annuity quotes from the entire market.
By definition, an annuity is a series of fixed payments over a certain amount of time.
Pension Annuities Calculator
Advice includes an assesment on whether you have access to a guaranteed annuity rates with your existing accumulated pension. The pension annuities calculator helps you to look at rates from your existing provider and comparing them to the rates available from the open market. This is called the ‘Open Market Option’ and it gives you the right to look on the whole market for the best annuity rates.
A pension annuity is simply a way to convert your pension fund into income for the rest of your life. Using the annuity calculator uk you have the choice of taking any tax free cash (normally a maximum of 25% of the pension fund) you are entitled to before the annuity is set up. At any point in time an older person will receive a greater income than a younger person for each £1000 converted, this is because of life expectancy. The general level of annuity rates fluctuates from time to time. The income payment is determined at outset using the annuities calculator and guaranteed throughout your lifetime. The annuity can be for a level amount or it may increase each year, e.g. by 5%. Your income will be paid regularly direct into your bank account.
