What is a Pension Annuity?
A pension annuity is a product that converts your pension pot into guaranteed regular income for the rest of your life, no matter how long you live. With a pension annuity, you'll know exactly how much you're getting, come rain or shine.
Our annuity calculator is a handy tool that will support you in gaining a better understanding of how much you could expect to receive from your pension with a Pension Annuity.
Why get a quote with Legal & General?
Help getting you the best deal
When you get a quote with us, we'll also check if there are better deals available. You'll also have the option of seeing who's offering this by visiting our partner website Annuity Ready.
The choices you make may affect your income for the rest of your life, and you can't change your options later. We strongly recommend seeking financial guidance or advice.
Pension Wise is a government service from MoneyHelper that offers free impartial pension guidance. Available if you're 50 or over, you should consider having a free Pension Wise appointment, before you decide how to access your pension.
Pension and retirement advice from Legal & General’s team of expert advisers. If you’re aged 55 or over and want to access your pension our advisers can give you advice that’s tailor-made for you, so you can be confident you’ve made the best choices for your future. The first no-obligation call is free.
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We can give you an online quote if...
Always compare what we can offer with what's available from other providers, as they may have more appropriate products or be able to offer a higher retirement income.
We can't give you an online quote if...
If any of these apply to you, call 0808 304 9447. We may record and monitor calls.
Quote and apply for Pension Annuity
We aim to make this process simple, clear and jargon free.
Common annuity questions
'Pension' could be used to refer either to the amount that you have saved in your pension pot through private or workplace pensions, or to the state pension, which is paid by the Government.
A pension annuity is a product that you can buy with your pension pot, which guarantees to pay you an income for the rest of your life.
Guidance helps you to identify and narrow down your choices in an impartial way. It won’t tell you what’s right for you but will explain your options and provide information so that you can choose what you want to do.
Advice considers your personal and financial circumstances and recommends specific products or actions to be taken that helps you achieve your goals.
There are lots of different types of annuity to choose from. And some have benefit options available too. You can learn more in our ‘Types of annuity’ article.
We only sell lifetime and enhanced annuities.
An enhanced annuity is an increased income that you could get, if you have any medical conditions or lifestyle risks. You'll need to answer some medical and lifestyle questions to see if this applies to you. You can learn more in our enhanced annuities article.
If you apply for a Pension Annuity, you have 30 days from the date you receive our confirmation that your annuity has started to change your mind. If you do not take this opportunity to cancel, your annuity will continue for the rest of your life.
There are options you can choose when buying an annuity that guarantees some money goes to your loved ones when you die. You can learn more in our article 'What happens to annuities when you die?'.
From 1 June 2022, the Financial Conduct Authority now requires pensions providers to refer customers to Pension Wise guidance and explain the nature and purpose of this guidance, when they decide to access their pension savings.
Pension Wise from MoneyHelper is a free and impartial Government pension guidance service.
Your decision about which options to choose is likely to be influenced by many factors, such as how much income or cash you need now and in the future. You should also consider your personal circumstances and the impact that your choices may have on taxation, State Benefits, Annual Allowances and any dependants.
Annuity articles
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 011 3797
Monday to Friday 9am to 5pm.
Calls may be recorded and monitored.
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 and 5pm.
Calls may be monitored and recorded.
Speak with us
Our colleagues in Cardiff are always happy to answer your questions.
0800 048 2446
Monday to Friday 9am to 5pm.
Calls may be monitored and recorded.
