Compare top lifetime annuity rates with Annuity Ready

Guaranteed income for life from your pension savings.

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Transform your pension savings into a regular income stream for life
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Tailor your annuity with flexible payment options and death benefits
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What is a lifetime pension annuity?

A lifetime pension annuity is a financial product that converts your pension savings into a steady income for the rest of your life. By purchasing a lifetime annuity, you ensure a predictable and secure income, helping you manage your finances in retirement.

How does it work?

When you purchase a lifetime pension annuity you receive regular payments - monthly, quarterly, 6-monthly, or annually - either in advance or arrears. You can choose between a fixed income annuity or one that increases over time, depending on your needs. Additionally, you have options to provide for your loved ones after you die.

Advantages
- A guaranteed income for life
- Flexible payment options
- Higher income if you have certain medical conditions
Disadvantages
- Irreversible decision
- Typically less flexible than other retirement options

Is a lifetime pension annuity right for you?

If you're seeking a reliable income stream in retirement and wish to avoid the uncertainties of market fluctuations, a pension annuity could be suitable. It's particularly beneficial for those who prefer financial stability and want to ensure their expenses are covered throughout their retirement years.

older couple walking on the beach annuities pensions later life retirement

Flexi-access drawdown

Your pension stays invested, offering growth potential. Requires ongoing monitoring or financial advice.
Lump sum withdrawals

25% of each lump sum is tax-free, the rest is taxed as income but there is a risk of depleting funds early.
Delay access

Pension continues to grow tax-free but there's a risk of market downturns reducing the pot.