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Annuity Calculator

Our Annuity Calculator provides a helpful estimate of your potential retirement income with a pension annuity and our other guaranteed income products. Use our calculator to see how much you could get.

What is an annuity calculator?

Our annuity calculator is a handy tool that will support you in gaining a better understanding of your guaranteed income options in retirement and how much you could expect to receive from your pension with a Pension Annuity.

Benefits of our annuity calculator

  • Quick indication of your possible annuity income
  • Compare multiple retirement income products against each other
  • Ability to toggle between how much you’d like to receive per year and how long you would like your payment period to be.

Annuity Calculator

Our Pension Annuity Calculator helps you see how much income you could receive with a guaranteed income product. Don't include any final salary pensions or your state pension in your calculations.

I am
years old.
I have
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saved in my pension pots.

How our calculator works

  • Annuity income results are available on our calculator for ages 55-85
  • Once you enter your age and pension pot amount, we'll show:
    • The amount you could take for your 25% tax-free lump sum
    • The amount remaining in your pension pot after taking the lump sum
    • An estimated annual income based on the amount left in your pension pot
  • As well as results for our annuity, which guarantees an income for life, you can see results for our Fixed Term Retirement Plan and Cash-Out Retirement Plans which offer incomes over a fixed term, in addition to our Pension Drawdown product and taking your pension as cash.
  • You can use the calculator to see the impact of different terms on your annual income.

Taking out an annuity with Legal & General

Used our annuity calculator and ready to think through your income choices?

Receive a guaranteed income with a Pension Annuity

You've seen from our calculator the different guaranteed income products we offer.

To learn more about our annuity, visit our Pension Annuity page. It shares more information about how they work and helps you decide if it’s the right choice for you.

When you get a quote, we’ll tell you if anyone else offers higher rates. So, you’ll be able to compare a wide range of retirement income options and be sure you’re getting the best deal for you.

Our annuity calculator would have also given you an insight into what you might receive with other retirement income products: Fixed Term and Cash-Out Retirement Plans, or Pension Drawdown. You can visit those product’s pages too for more information.

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14% rise in annuity rates in two years

Could now be the best time to buy an annuity? We look at what this means for your retirement income.

Based on Legal & General annuity rates, July 2024.

Retirement income products compared

Guaranteed income (Pension Annuity)

Fixed Term Retirement Plan

Cash-Out Retirement Plan

Flexible income (Pension Drawdown)

Can it provide a regular pension income?

Yes

Yes

Yes

Yes

Can I choose a guaranteed income each month?

Yes

Yes

Yes

No

Is my income guaranteed to last my whole life?

Yes

No

No

No

Can I change how much I get?

No

No

No

Yes

Am I exposed to market movements, up or down?

No

No

No

Yes

Annuity articles

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How annuities work

Many people are looking for reliable ways of funding their later years. Perhaps you want to make sure the bills are covered for the foreseeable future. Maybe you’d like to fund those trips you’ve always dreamed of taking, or that hobby you’ve always loved so much. Or you might just want to top up your income when you switch to working part time.

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Buying an annuity

Deciding that an annuity’s the right choice for you is only the beginning. You still need to look around, find the right one and then buy it. We’re going to give you some key pointers to help you do just that.

Family crossing river stepping stones

Annuity vs drawdown – what's the difference?

Many of us have spent the last few decades planning and carefully saving for the things that are important to us, whether that’s life’s luxuries, our mortgages and bills, or our plans for the future. As we get older we might have different priorities, but our financial planning for retirement should be just as important.

Need some help?

Making well-informed decisions about how to finance your retirement is important so it’s worth shopping around and using available guidance and advice, before you buy.

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Retirement guidance

Pension Wise from MoneyHelper

The government’s free and impartial service, offering guidance to make money and pension choices clearer.

To find out more or book an appointment online click below or call.

0800 138 3944

Monday to Friday 8am to 6.30pm.
Calls may be recorded and monitored.

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Speak to us

Our colleagues in Cardiff are always happy to answer your questions or help you apply for a quote.

0800 048 2446

Monday to Friday 9am to 5pm.
We may record and monitor calls.

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Retirement advice

Retirement Advice Service from Legal & General

Our advisers are experts in retirement regulated by the Financial Conduct Authority , so you can trust them to provide impartial advice and a personal recommendation that’s right for you.

0808 304 9155

Monday to Friday 9am to 5pm.
We may record and monitor calls.