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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.
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?
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
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.
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.
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.
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.
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.
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.