Pension annuity

Get a guaranteed income for your retirement, with a pension annuity from Legal & General.

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Secure your future financially

A pension annuity guarantees to give you a lifelong income. With a Legal & General annuity you can choose for it to continue to pay your loved ones when you pass away.

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Buy from one of the UK's biggest

Over 956,000 customers use
Legal & General for their annuity income, making them one of the UK's biggest annuity providers.

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Apply online in
minutes

You can get a quote and apply for a pension annuity online, you just need to provide some basic details around your pension savings and any health conditions.

Stack of coins icon

Secure your future financially

A pension annuity guarantees to give you a lifelong income. With a Legal & General annuity you can choose for it to continue to pay your loved ones when you pass away.

L&G Logo icon

Buy from one of the UK's biggest

Over 956,000 customers use
Legal & General for their annuity income, making them one of the UK's biggest annuity providers.

Heavy Checkmark Screen icon

Apply online in
minutes

You can get a quote and apply for a pension annuity online, you just need to provide some basic details around your pension savings and any health conditions.

How does a pension annuity work?

From the age of 55 (57 from 2028) you can take up to 25% of your pension pot as a lump sum without paying tax. You can then leave the rest of your money invested and dip into it when you need it via drawdown, or you can buy a pension annuity. In contrast to drawdown, an annuity guarantees that you receive a regular income throughout your life, which is determined by your annuity rate.

Does it provide a regular pension income?

Pension Annuity

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Drawdown

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Will I have a guaranteed income each month?

Pension Annuity

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Drawdown

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Is my pension income guaranteed to last my whole life?

Pension Annuity

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Drawdown

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Can I change how much I get from my pension income?

Pension Annuity

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Drawdown

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Do I have options to pass on my pension to beneficiaries?

Pension Annuity

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Drawdown

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Pension Annuity

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Drawdown

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Does it provide regular pension income?

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Will I have a guaranteed income each month?

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Is my pension income guaranteed to last my whole life?

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Can I change how much I get from my pension income?

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Do I have options to pass on my pension to beneficiaries?

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How is my pension annuity income calculated?

The final annuity income you get can depends on things like your age, health and where you live. Generally, the older you are, the higher the annuity rates you'll be offered. You're also likely to be offered a higher income if you have a shorter life expectancy for other reasons, for example you're in poor health or you're a smoker.

To get a rough idea of what you might receive from an annuity you can use Legal & General's retirement income calculator.

Use the calculator

Things to consider before buying an annuity:

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Consider what you want from retirement

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Consider all your pension options
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Consider the income your pension will generate

Get a free pension annuity quote today

You can generate a pension annuity quote in minutes online through our partner, Legal & General. We earn a referral fee from Legal & General if you decide to purchase an annuity, but this fee doesn't impact the annuity income you receive.

Remember, it's always a good idea to compare annuities from several providers to find the one that suits you best. If Legal & General don't provide the best annuity rate they will offer the option to run a whole of market comparison for you, to ensure you get the best retirement outcome.

Depending on your circumstances, you might be entitled to an enhanced annuity. For example, if you have a long-term health condition that reduces your life expectancy, you may be entitled to a higher guaranteed annuity rate. If you're not sure about your retirement options or whether an annuity is right for you, you might want to consider independent financial advice - however, this is completely up to you.

Get started

Have a question?Call our UK team020 3457 8444

Monday-Friday: 9:30am-5pm