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Annuity delay calculator

Should you delay taking your annuity in case fund values or annual incomes rise, or might you miss out on more income by delaying?

This calculator can help you decide - it calculates these factors to show you the possible cost or benefit of delaying your annuity.

1

Your pension and planned delay

You and your current pension

If you delay your annuity

0% 25%
0% 8%
2

Your results

Based on an age today of and a total pension fund value of .

Today, you might receive

In , you might receive

Pension fund

( growth)

Tax free cash

Annual annuity income

( more)

You could miss out on of income by delaying your annuity for

This is not an annuity quote. Figures are for illustration purposes only. Your actual annuity quote, and any cost of delay, may be higher or lower than the results shown. The income is based on annuity 'best buy' figures as of 16 March 2017 and is intended to be equivalent to a basic annuity for your lifetime only without any inflation proofing.

It assumes current income rates remain unchanged during the period of delay and no income or tax-free cash is drawn during this period. It doesn't take factors such as postcode, marital status or health conditions into account, which will all affect your income.

In reality annuity rates will change regularly and may go up or down in the future. Expected growth calculations don’t consider the effects of any charges on your existing pension fund. If you're at all unsure of the suitability of an annuity for your circumstances, please seek advice.

Age at which your income would break-even

On this basis you would need to live until at least for your delayed income to break-even.

Did you know?

A UK born in has an average life expectancy of .

Life expectancy source: 2014-based UK Cohort Expectation of Life, Office for National Statistics.


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The information on our website is not personal advice but we can offer advice if specifically requested. What you do with your pension is an important decision, which could be irreversible. Make sure you understand your options and check they are suitable for your circumstances: take appropriate advice or guidance if you are unsure. The Government's free Pension Wise service can help. It provides impartial guidance face-to-face, online or by phone - more on Pension Wise.