Annuity Calculator
Get annuity quotes using our annuity calculator
The Annuity Supermarket annuity calculator can help you search out the best annuity rates on the market. Buying into an annuity for retirement is one of the most important things you will do as you plan life beyond work. With our expertise in the annuity market we can guide you through the retirement annuities marketplace to get you on the way to a long and happy retirement.
To use the annuity calculator, just fill in the form opposite and you will be contacted by one of our team of specialist advisors. We then get in touch with many different annuity providers to offer you the most suitable quotes. This personal service is tailored to your financial requirements and aims to find you the highest guaranteed pension income.
What criteria are important for the annuity calculator?
The annuity your pension fund will buy depends on your age, gender and state of health. These three factors provide a very rough estimate of how long are likely to need a retirement income.
Age and the annuity calculator
The annuities calculator takes into account your age when you take out the annuity. The older you are when you buy an annuity, the greater your annuity income is likely to be. This is because the insurance company providing your annuity income expects to pay out over a relatively short time. If you take out an annuity income at a younger age, your annuity provider expects to pay out for longer. The annuity calculator allows you to request a range of quotes relevant to your age.
Annuities and your health
Your general state of health also affects your annuity quotes for obvious reasons. But it might not have the impact that you expect. Many people worry that ill health will have a detrimental result on their retirement annuity but, as the annuity calculator will show, this is not the case.
If you are suffering from a medical condition or illness that is likely to reduce your life expectancy, your annuity provider will actually pay you a higher monthly income. Their reasoning is that you are likely to need the income for fewer years than someone in good health of the same age. The same applies if you are a smoker or if you are obese. You can use our annuity calculator to help you see if you qualify for enhanced annuity rates.
Why does the annuity calculator consider your gender?
Women tend to live longer than men, so a woman is paid la lower monthly annuity income than a man of the same age and with the same size pension fund. The annuity calculator will still allow you to find higher quotes by shopping around.
Spouses’ and partners’ pension annuities
If you want your spouse or partner to have an income after you die, you will need a joint life annuity. This will reduce the pension income you receive on retirement compared to if you bought a single life annuity, but will guarantee your partner an annuity income for life after your death. The annuity calculator will help you choose the best pension income options. Just enter your partner’s age in the ‘partner’s age’ box.
The annuity calculator will show your income depending on the percentage of your annuity income you want your partner to receive – typically, 100%, 66% or 50%. The higher the amount you choose for your partner, the lower your initial retirement income will be.
