With Profits annuity

A With Profits annuity can normally be bought with the proceeds from a UK registered pension scheme, provided the ceding scheme rules permit. It will pay the annuitant an income for the remainder of their life and at the same time allow them to benefit from the possible growth in the stock market.

What they will be paid will depend on a number of factors including, most importantly, investment returns. Their income is therefore not guaranteed, so could go down as well as up, although it will not fall below a minimum level.

The annuitant can normally choose from a range of options available from outset to determine when and how much they will be paid.

As the average life expectancy of annuitants continues to increase, the longer they may have to rely upon their income in retirement. The following link has two functions:

• to give an idea of how different rates of bonus with different levels of ABR can affect an estimated income; and
• to show the possible effects inflation may have.

Click on Legal & General With Profits Demonstrator (XLS - 60 KB) to find out more.

Alternatively, to view bonuses we’ve declared in the past and see how they would have affected a certain level of income from between outset and now, click on Legal & General With Profits Annuity Income Calculator (XLS - 60 KB).

If you’d like more information about our bonuses, you can get a copy of our bonus factsheet by visiting our website: www.legalandgeneral.com/bonus-declaration.

Or see our With Profits Annuity - Bonus History Applied.

Supporting literature:

• Legal & General Annuities Application Form (PDF - 160 KB)
• Pension Annuity Terms and Conditions (PDF - 80 KB)
• Pension Annuities Key Features (PDF - 160 KB)
• A guide to Legal & General’s with profits pension annuity (PDF - 1.1 MB)
• With Profits annuities frequently asked questions (PDF - 1 MB) 

Please note that the Key Features and Terms & Conditions should be issued together.