DIY annuities
Please note: We would suggest you’re really best off talking to an IFA who specialises in annuities.
However here are some of the basics if you do decide to arrange it yourself.
The price for annuities changes daily and there is a wide variety of deals being offered at any one time.
If you do it yourself, what you’re basically looking for is a pension provider who will give you the best price for the particular annuitiy you need.
Comparison tables are published regularly in the national press but for the full spectrum see Money Management Magazine, and Life & Pensions Moneyfacts. (To see the Latest Annuity Best Buy tables now Click here).
Be careful of having your head turned by a false loss leader. Bear in mind that the rates these tables give are specific to, say, a 65 year old male with £100,000.
Just because company X gives the best deal for that person does not mean they give the best deal for the 66 year old with a pension fund of £101,000.
In fact company X may well just be creating a loss leader to attract business. So be careful.
The figures given in the Best Buy Tables usually relate to how much annual income you can buy for each £10,000 in your pension fund.
Example of a comparison table
The following is an example of an annuity price table taken at random, over a year ago. It serves only to give you an idea of how they’re laid out. The prices will vary from day to day.
The figures in each table show how much annual income you can buy for each £10,000 in your pension fund ie if you have £100,000 in your pension fund multiply the following by 10.
| Male age 60 | Level without guarantee ( See 1) £ pa (For each £10,000) |
Escalating 5% ( See 2) £ pa (For each £10,000) |
| Legal & Gen | 801.24 | 476.28 |
| Standard Life | 784.8 | 476.4 |
| Friends Provident | 781.08 | 467.16 |
| Canada Life | 757.32 | 443.88 |
| Scottish widows | 757.08 | 446.88 |
Example only: To see the Latest Annuity Best Buy tables
Click here
| Female Age 60 | Level without guarantee (See 1) £ pa (For each £10,000) |
Escalating 5% (See 2) £ pa (For each £10,000) |
| Canada Life | 711.00 | 400.92 |
| Norwich Union | 709.92 | 387.24 |
| Prudential | 708.72 | 393.84 |
| Friends Provident | 706.2 | 394.8 |
| Legal & Gen | 705.36 | 390.84 |
Example only: To see the Latest Annuity Best Buy tables
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| Joint Life Last survivor (See 3) Male 65/ Female 65 |
Level without guarantee (See 1) £ pa (For each £10,000) |
Escalating 5% (See 2) £ pa (For each £10,000) |
| Norwich Union | 723.48 | 415.68 |
| Canada Life | 705.6 | 410.88 |
| GE Life | 705 | 390 |
| Legal & Gen | 704.76 | 403.56 |
| Prudential | 702.84 | 406.8 |
| If you want to get a specific idea of how big an annuity you could get with your pension fund, we can connect you to an IFA who specialises in annuities. They will give you a quick customised quote.This is a free service and you’re under no obligation to proceed in any way. Click here. |
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Level without guarantee:
This means the income from your annuity remains the same for the rest of your life ie it will be prone to inflation.
Escalating 5% pa compound without guarantee:
The income from your annuity increases by 5% each year (ie to counter inflation) but stops immediately you die.
Joint Life last survivor:
When the “first life” dies (ie one partner of a couple getting the annuity pops their clogs) the annuity passes to the survivor – the second life – and continues until they die.
Annuities UK Guide
Basic Facts About UK Annuities
Choosing Your UK annuity
DIY UK annuities
Types of UK annuities
Check the Latest UK Annuity Best Buy tables
Getting annuity quotes via here