Understand and compare annuities

Watch this short video of people describing their annuity experience (Download the video transcript)

  • Learn about basic lifetime annuities
  • Compare different features and options
  • Find out how to get the best deal
Compare annuities

or retrieve a saved quote

What is a lifetime annuity?

A lifetime annuity provides you with a regular retirement income for life – with the guarantee that the money won’t run out before you die.

Other lifetime annuities include investment linked or flexible annuities – which have an income based on the investments chosen. They carry more risk than basic lifetime annuities in return for a potentially higher income. It’s important you choose the type and features best suited to your personal circumstances, your life expectancy and your attitude to risk.

It pays to shop around for an annuity

  • A 2014 survey showed that 8 out of 10 people who stayed with their existing provider lost out by not switching. Source: Financial Conduct Authority, Thematic Review of Annuities, Feb 2014
  • It’s your right to shop around and you’ll usually get a higher retirement income.
Annuities shopping around image

Tips before you shop around

If your existing pension provider offers a Guaranteed Annuity Rate it will be hard to match – be sure to ask and then compare quotes.

An annuity is just one of several options you have for using your pension pot to provide a retirement income. See our guide Options for using your pension pot to find out more.

Once you buy an annuity you can’t change your mind – get help or advice before you commit. Find out more in next steps at the end of this tool.

Our promise to you

  • We are set up by government so our tables and results are unbiased
  • We don’t receive any incentive or commission
  • We will not contact you or share your details

We help you search the following providers

  • Aviva
  • Canada Life
  • Hodge Lifetime
  • Just Retirement
  • Legal and General
  • Scottish Widows