What’s an annuity calculator?
You’re considering the prospect of a guaranteed life-long income from our pension annuity.
So, naturally you want to get a feel for how much that income could be.
Our annuity calculator just needs some basic information to give you an estimate of how much your life-long income could be with us – helping you to make an informed decision about your future.
The benefits of our annuity calculator
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It only takes a minute
Just tell us your age, your post code, and any pension funds you have. That’s all our calculator needs to get its gears whirring.
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Anonymous and secure
We keep your data secure and you don't even need to give us your name.
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Help for your next move
Give us a shout and our annuity experts can answer all your questions and guide you through the next steps.
Things to know
- A guide, not a guarantee
Our annuity calculator is here to give you an idea of how much your income could be. It’s not a guaranteed quote and it’s not personalised advice. It’s to help you decide whether a pension annuity aligns with your retirement goals – if it does, get in touch and speak with one of our annuity experts. - Pensions from any provider
Our annuity calculator can give you an estimate so long as you have at least one pension. Your pension, or pensions, can be with any provider, but our calculator can’t include defined benefit pensions. - How our calculator calculates
Our calculator uses a set of assumptions. If you decide to buy a pension annuity and personalise it, some of these assumptions might not apply to you.
Our calculator works by assuming:
- you’ll take 25% of your pension fund as a tax-free lump sum before buying your annuity
- the policy will be set up to pay an income to you alone and will not pay an income to anyone else after you die
- your income will be paid monthly and is set at a fixed amount
- no matter what happens, your annuity will be guaranteed to pay out for a minimum of 1 year
- you’re in good health
Please note, the income you get from an annuity counts towards your taxable income. Annuity rates may vary - discover more on annuity rates.
Annuity Calculator
Get an idea of what your guaranteed life-long annuity income could be by having a whirl on our annuity calculator. It’s a piece of cake to use and only takes a minute to complete – less than the time it takes to eat an actual piece of cake.
Compare your retirement options
Retirement goals are personal and specific to each person – which is why there’s lot of choice on the pension menu. We’ve put together a table that compares four of the most common retirement options. Take a look and see what best fits your retirement needs and wants.
| Pension annuity | Flexible income (drawdown) | Take it all in cash | Leave it where it is | |
|---|---|---|---|---|
| Can your money run out? | Not included | Included | Included | N/A |
| Can you set up regular payments? | Included | Included | Not included | N/A |
| Will it provide a guaranteed income for life? | Included | Not included | Not included | N/A |
| Can you vary how much income you take? | Not included | Included | N/A | N/A |
| Can you change your options later and use your pension differently? | Not included | Included | Not included | Included |
Get in touch
Have a chat with one of our annuity experts. They’ll answer all your questions and queries and help you find out how much your annuity income could be.
They’ll clear up any questions you have and talk you through what comes next.
I have an Aviva pension
0800 096 5106
Monday to Friday: 9:00am - 5:00pm
Weekends and bank holidays: Closed
My pension is with another provider
0800 051 4003
Monday to Friday: 9:00am - 5:00pm
Weekends and bank holidays: Closed
Pension Wise
If you’re 50 or over, you can get impartial and specialist advice on your retirement options using Pension Wise from MoneyHelper. It’s backed by the government and completely free.
Reach out to them on 0800 138 3944 or visit their website for more details.
Pension annuity articles
Take a look at our library of helpful articles and guides.
Annuity glossary - explaining the jargon
The language of annuities can be confusing, so here's a simple guide to some of the key terms.
How does annuity value protection work?
Annuity value protection allows you to add death benefits when you go to purchase your annuity.
When do annuities make sense?
Annuities can provide a stable income for your retirement, but they aren’t the only option. Find out if they’re the right choice for you.
An overview of annuity rates
Annuities give you a guaranteed income for the rest of your life. But exactly how much could you get?
What is an annuity?
An annuity converts your savings or pension pot into a low risk guaranteed income for your retirement. See how annuities work, and if it could be right for you.
Enhanced annuity – What they are and how to get one?
An enhanced annuity could be a way to boost your retirement income, this article talks abut how you may be eligible for more than you think at retirement, and exactly how to check.
Annuity vs drawdown – two ways to take your pension money
When approaching retirement one of your main decisions will be how to take money from your pension. Explore the differences between drawdown and an annuity here.
Level vs escalating annuity
Level annuities pay a higher initial income, but escalating annuities can offer stability in the face of inflation.
Aviva Life & Pensions UK Limited. Registered in England No. 3253947. Aviva, Wellington Row, York, YO90 1WR. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Reference Number: 185896. aviva.co.uk