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.

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:

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:

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.

Next steps

Pension Wise

Pension Wise is a free and impartial service set up by the government for people retiring with defined contribution pensions. It will help you understand what your choices are and how they work.

You'll be able to get help on the Pension Wise website, over the phone or face to face about:

  • what you can do with your pension pot
  • the different types and how they work
  • tax you pay on your pension.

If you're not sure about your options at retirement you should seek appropriate guidance or advice.

Speak to a financial adviser

Nothing on this site is personalised advice or a recommendation. If you need a personalised recommendation based on your personal circumstances, you should seek financial advice. We can't give you advice but we can put you in touch with an adviser who can talk to you about which financial products or investments may be right for you.

Call a member of our team on

0800 533 5195

Monday to Friday - 9.00am - 5.00pm

For our joint protection, we may record our telephone calls. Calls are free from a BT land line. Costs may vary from mobiles and other networks.

Alternatively, you can visit www.unbiased.co.uk to find an adviser in your local area

Call us now for more information

If you’re new to Aviva

0800 068 3038

Or if you are already a pension customer

0800 533 5195

Monday to Friday - 9.00am - 5.00pm

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

Our team will be happy to provide you with a personalised quote once you know which options you want.

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