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Annuities

Compare our annuity plans

If you're not sure which type of annuity to choose, have a look at the table below. It compares the various options that are available with Aviva's annuity plans to help you work out which one is best for your own personal circumstances.

Helping you choose your annuity

Find out more about the different types of annuities offered by Aviva.

Contact us

For new policy enquiries or information on our products please call

0800 068 3038

Monday to Friday
9.00am - 5.00pm

For our joint protection, telephone calls may be recorded and/or monitored.

Or, arrange for us to call you back at a convenient time.

Existing Customers

If you are an existing Annuities customer, please call

0800 068 6800

Monday to Friday
8.30am - 5.30pm
Saturday
8.30am - 2.00pm

For our joint protection, telephone calls may be recorded and/or monitored

Pension Annuity (including the Enhanced Pension Annuity) With Profits Pension Annuity Immediate life Annuity
Our Pension Annuity pays a guaranteed income for the rest of your life, which you can choose to be paid at the same level each year or increase each year by a fixed percentage or in line with inflation measured by the Retail Prices Index. Our With Profits Pension Annuity provides the potential for your pension income to grow in retirement through investing in our With-Profits Sub Fund. Your income may go down as well as up. The income will be paid for the rest of your life. Our Immediate Life Annuity pays a guaranteed income which you can choose to be paid at the same level each year or increase each year by a fixed percentage. The income will be paid for the rest of your life.
Source of Money Pension Annuity With Profits Pension Annuity Immediate life Annuity
Your pension fund Tick icon Tick icon Cross icon
Cash lump sum Cross icon Cross icon Tick icon
Minimum purchase amount (after any tax free cash has been taken and any adviser charge has been paid) £10,000 £20,000 £7,500
What options are available? Pension Annuity With Profits Pension Annuity Immediate life Annuity
Level income Tick icon Cross icon Tick icon
Yearly increase by a fixed percentage Tick icon Cross icon Tick icon
Yearly increase in line with increases in the Retail Prices Index Tick icon Cross icon Cross icon
Dependant's Pension Tick icon Tick icon Tick icon
Guaranteed Period Tick icon Tick icon Tick icon
How is it taxed? Your pension income will be treated as earned income and taxed according to your personal circumstances. Your pension income will be treated as earned income and taxed according to your personal circumstances.

Your payments are normally split into two parts:

  • A ‘capital part’ - which is tax-free if the tax office agrees.
  • An interest part which may be taxed at the basic rate depending on your personal circumstances.
How frequently is it paid? Pension Annuity With Profits Pension Annuity Immediate life Annuity
Monthly Tick icon Tick icon Tick icon
Quarterly Tick icon Cross icon Tick icon
Half-Yearly Tick icon Cross icon Tick icon
Yearly Tick icon Tick icon Tick icon
Charges and flexibility Pension Annuity With Profits Pension Annuity Immediate life Annuity
What are the product and investment charges? Charges are taken into account when we work out the price of the retirement income. Charges are taken into account when we work out the initial retirement income and when we decide the bonuses to add to your pension each year. Charges are taken into account when we work out the retirement income.
What is an adviser charge? The payment you have agreed to pay to your Financial Adviser for the initial advice and services they have provided to you. The payment you have agreed to pay to your Financial Adviser for the initial advice and services they have provided to you. The payment you have agreed to pay to your Financial Adviser for the initial advice and services they have provided to you.
How flexible is it? The options you choose at the start of your plan cannot be changed and once you have bought your annuity it has no cash in value at any time.

At any time after the first year you can:

  • Change your Anticipated Bonus Rate within our limits at the time.
  • Convert your plan to an ordinary Pension Annuity.

In both cases we'll recalculate your pension income

The other options you choose at the start of your plan cannot be changed and once you have bought your annuity it has no cash in value at any time.

The options you choose at the start of your plan cannot be changed and once you have bought your annuity it has no cash in value at any time.

Ready to take the next step?

We want you to make the right decision when you choose your annuity, so we recommend you speak to a financial adviser. If you don't have an adviser, you can find one in your area at www.unbiased.co.uk

Want to find out more?

Call us on 0800 068 3038

Lines are open Monday to Friday 9.00am - 5.00pm. Calls may be recorded and/or monitored.

WC01038 10/2014