Annuity Rates At 60

WWW.ANNUITYRATESAT60.CO.UK

Annuity rates at 60 updated: $QUOTEDATE$

Annuity rates can vary significantly between providers so it is important to check the rates available using your right to shop around, known as the ‘open market option’.

Comparing the rates available with the rate offered by your pension company can significantly increase your income in retirement as the rate provided by your pension company may not be the best rate available, even if you have saved with them for a significant period of time.

6 Steps To Comparing Annuity Rates
  1. Find out your pension fund value and enquire as to whether you can take any tax free cash, known as a ‘pension commencement lump sum’.
  2. Check whether your pension has any specific benefits such as a Guaranteed Minimum Pension (GMP) or Guaranteed Annuity Rate (GAR) as this can affect whether or not you can transfer your pension fund and whether you would lose any benefits in doing so.
  3. List your medical conditions and when they were first diagnosed. It’s handy to have your most recent readings and details of any medication you are taking to hand as this will be needed for the quotation.
  4. When entering your medical information, ensure you are being as honest as possible otherwise you could be missing out on valuable income by not declaring existing conditions.
  5. If you are comparing with different companies check that the quote basis is the same, i.e. Level income or Increasing, with or without a guarantee period, joint or single basis.
  6. Make sure you include all the open market option annuity providers which include companies such as Legal and General, MGM Advantage, Reliance Mutual, Partnership, LV=, Canada Life, Prudential, Standard Life, Aviva, Just Retirement, Scottish Widows, Friends Life and Hodge Lifetime.
Example Annuity Rates updated on $QUOTEDATE$

We have included current annuity rates to provide some examples of what is available. The rates quoted are for a monthly annuity payable in arrears and do not include a dependents pension which might be important for you to consider. The companies we have quoted from include Legal and General, MGM Advantage, Reliance Mutual, Partnership, LV=, Canada Life, Prudential, Standard Life, Aviva, Just Retirement, Scottish Widows, Friends Life and Hodge Lifetime.

Typical Annuity Rates At Age 60 For £25,000


Pension Fund £25,000Age 60 HealthyAge 60 SmokerAge 60 After A Heart Attack
Level, No GuaranteeN/AN/AN/A
Level 5 Year GuaranteeN/AN/AN/A
RPI Linked - No GuaranteeN/AN/AN/A
RPI Linked - 5 Year GuaranteeN/AN/AN/A
Last Updated: $QUOTEDATE$ (Source: PayingTooMuch.com)

Typical Annuity Rates At Age 60 For £50,000


Pension Fund £50,000Age 60 HealthyAge 60 SmokerAge 60 After A Heart Attack
Level, No GuaranteeN/AN/AN/A
Level 5 Year GuaranteeN/AN/AN/A
RPI Linked - No GuaranteeN/AN/AN/A
RPI Linked - 5 Year GuaranteeN/AN/AN/A
Last Updated: $QUOTEDATE$ (Source: PayingTooMuch.com)