View annuity rates for the whole of the open market and find out how much income you could receive.
Enhanced, fixed term & conventional annuities are all available to choose from.
Compare quotes from companies authorised & regulated by the FCA absolutely free of charge.
We make the process of searching the open market, quick and painless.
We have years of experience in helping customers with their pensions and retirement.
The information we request from you could help you qualify for an enhanced annuity.
Annuities are considered 'guaranteed retirement income', that's paid out for the remainder of your life time. In some cases annuities can continue to pay your family after you have died. Annuities convert your pension pots, or cash savings into a regular payment that gives you a reliable source of income.
The two main types of annuity are: lifetime annuity and fixed term annuity.
According to industry sources* - only around 20% of annuities sold are enhanced. Around 60% of all annuity applicants could qualify for some sort of enhancement, so it's always worth shopping around for better annuity rates.
This is where Annuity Works can help as we do the legwork in finding you the best annuity rates for you and your individual circumstances.
With our process, there is minimal hassle in shopping around and comparing all annuity providers on the open market. We provide this comparison service to you, free of charge - to help put you in the best position for your retirement.
Our service is quick and easy, so call Annuity Works on 0808 164 2664, or fill in our form today to get started.
There are two main types of annuity available:
Fixed Term Annuity - These annuities enable you to choose a specific time frame over which your guaranteed income is paid (normally between 5 & 10 years).
Fixed term annuities can help you to keep your options open, because they don't require the level of commitment required for a conventional plan.
Lifetime Annuity - Lifetime annuities usually allow you to take up to 25% of your pension pot as a tax-free lump sum.
You are then able to use the rest to buy an annuity, which provides you with a regular income for life.
Enhanced Annuity - Approximately 80% of people qualify for an enhanced annuity. Enhanced annuities can pay up to 70% more than a standard annuity - whilst still providing you with a guaranteed income for life.
Enhanced annuities take into consideration your health situation, including any medical conditions you might have and provide you with a higher income, due to the likelihood that you have a shorter life expectancy. There are over 1500 medical conditions that are relevant. Some occupations & postcodes could also qualify you for an enhanced rate.
Standard Annuity - Sometimes called traditional (or conventional) annuities. Standard annuities pay you a guaranteed income for the rest of your life, but is not impacted by future changes in interest rates or market investments.
The graph below illustrates the difference health conditions make to an annuity quote based on a 67 year old, with a £130,000 pension for a single life annuity, guaranteed for life.
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