Getting an annuity quote online

What is an online annuity quote?

An online annuity quote tells you what income payments you can expect from your pension pot size. The amount you might get will be based on a range of different factors, including:

• What annuity rates are like when you buy it, and how much you spend on it
  • Your annuity rate defines how much income you get from your annuity – read our Annuity rates article to find out more about how they work
• What your age is and how healthy you are
• What product you go for and which product options you choose

Why should I get an annuity quote?

An annuity quote is worth getting because it:

• Shows you what sort of guaranteed income you could get
• Will show you if you can get a higher pension annuity income with another provider
• Is more accurate than an annuity calculator because it’s personalised to you

And with us, it’s very quick and easy. It only takes about 15 minutes and you can sort it out on your computer, tablet or even your phone. 

How to get an annuity quote 

Our quote journey is simple, speedy but also very thorough. We’ll take you through this process:

• Check that we can actually give you a quote then ask you to register with us
  • We’ll ask for your email address, then send you an email with your account activation details. You won’t need to active your account to get your quote or download it as a PDF.
  • You will need to activate your account if you want to step away from answering our questions and come back later, check your quote later on or actually go ahead and buy a product based on it.
• Tell you where you can get financial advice and free guidance to chat through the bigger picture
• Take you through our quote questionnaire, asking you about:
  • Your pension
  • Your product choices
  • Your possible product features and benefits
• If you’re getting a pension annuity quote:
  • Your lifestyle
  • Your state of health
  • Your dependants - we'll then need their:
    • gender
    • date of birth
    • medical details

That may seem like a lot of information, but once you’ve got your quote you can – if you want to – go straight to actually buying your annuity. We need to ask you all those questions to set everything up for that and make sure we’re giving you the best deal we can.

You can go through our quote journey on your computer, your tablet or even your phone. And once you’ve got your quote, you can sign back into your account and access it whenever you want to through all those different kinds of devices.

And of course you don’t have to go online to get your quote. You can just:

• Call us on 0808 304 9447. Lines are open Monday to Friday, 9am to 5pm. We may record and monitor calls.

What information do I need in hand?

You can save and return to your quote, but you might want to complete your online annuity quote and application in one go. If so, it’s a good idea to have everything to hand. We’ll ask you:

• About any pension savings you have. You’ll need to know:
  • How much money you want to use from your pension pot
  • Whether:
    • your existing pension plan has any guarantees or other valuable benefits
    • there are any costs or penalties for taking money from your existing pots
• Which products you’re interested in. You won’t need to make a final decision now, but you might want to do a bit of reading before you begin.
  • Our Pension Annuity, Fixed Term Retirement Plan, Cash-Out Retirement Plan and types of annuity articles will be a good starting point.
• If you’re getting a pension annuity quote, for some medical details:
  • People dealing with certain health issues can get enhanced annuities with better rates – we’ll ask you for some medical information to see if that applies to you.
  • These questions will include basic ones about your height, weight and alcohol consumption, and more detailed ones about any health issues you’re facing.
  • Our more detailed questions can include when you were diagnosed, or when you last spoke to your doctor about your treatment or medication.
  • You don’t have to answer any of our medical questions if you don’t want to, but that means you won’t get an enhanced annuity quote even if you’re eligible for one.
• If you want someone to receive your pension annuity income when you die and, if so, who they are. There’s a section for their details too – including their medical information.
• When you’d like your plan to start. So you’ll need to think about whether you want to retire soon or keep working for longer.
• How you’d like to receive your retirement income.
  • Do you think you’ll want it paid monthly or annually?
  • Would you like it to increase each year?
  • How would you like to access your tax-free cash?

That’s a lot of questions! And some of them can need quite deep thought. That’s why it’s a very good idea to seek financial advice or guidance if you’re thinking about buying an annuity.

You can also go back and change your answers if you need to, either before or after you get your quote. But don’t forget that you can’t make any changes once you’ve actually bought your annuity.

Where can I get an annuity quote?

You can get a detailed, personalised annuity quote from us. You just need to answer some questions about your plans and circumstances. 

If you don’t want to spend that much time or only need a rough idea of your annuity income, you can use our Annuity Calculator. It instantly estimates the annuity rates you could get.

How long does it take to receive an annuity quote?

You’ll get your quote as soon as you’ve answered our questions about your circumstances and plans. That should take about 15 minutes if you go through them all at once. And you can always save your progress and come back to them later on. You’ll get your quote in your browser. You can also download it as a PDF or sign back into your account to see it later on.

Who can get an annuity quote?

To get an online annuity quote, you have to:

• Be aged between 54 years 9 months and 84 years 9 months, and live in the UK
• Have a defined contribution pension pot of at least £5,000 for a pension annuity, or £10,000 for a fixed term or cash out retirement plan, after you've taken your tax-free cash
  • If you have a defined benefit pension you should talk to a financial adviser about your later life income options
• Not have a guaranteed annuity rate attached to your pension
  • You might lose it if you buy an annuity through us

If any of these apply to you, you can still get a quote but you have to do it slightly differently. Just call us on 0808 304 9447 to get one over the phone or by post. Lines are open Monday to Friday, 9am to 5pm. We may record and monitor calls. And of course you can use our annuity calculator to get an estimate of how much you could get.

Useful tips before requesting an online annuities quote 

Your quote will be valid for 45 days. We must have received your completed application form and pension pots by this date. And once you’ve bought your annuity you can’t make any changes to it. So choosing the right one for you is a key part of the annuity process. To help with that, you can:

• Make an appointment with the Government’s free guidance service Pension Wise to talk through your retirement income options.
• Speak with a financial adviser. If you don’t already have one you can find one at Unbiased. You’ll probably have to pay for their advice.
• Get in touch with our Retirement Advice service for impartial, tailored financial advice.

And to make getting your quote easier, make sure you:

• Gather all the information you’ll need for your quote. You can pause and return to it but it’s easier when you already have everything to hand.
• Make sure you give us an email address that’s in use and easy to access. You’ll need it to save your quote answers part way through or re-access your completed quote.
• Bear in mind that, if you’re inactive for more than 15 minutes, we’ll log you out of your account for your own security. Just enter your details to log back in.

What should I do next?

• Explore the annuity application process
• Understand how annuity rates in the UK work
• Discover how annuities work
• Explore our own Pension Annuity
• For an even quicker estimate, visit our Annuity Calculator