Annuity Calculator

You should use an annuity calculator to help you find the best annuity rates. When you come to retire and need to convert your pension into an annuity you do not have to automatically take your annuity from the existing pension provider. Most often you can get the best annuity rates by shopping around on the open market.

Before you retire you can get a state pension forecast. This will help you understand how much you will recieve in State Pension benefits that way you can work out how much you will need from your annuity each month.

Pension Annuities that you purchase using the open market option can include those that are available if you are a smoker or are taking some form of qualifying medication, these are called impaired life annuities, again you can use an annuity calculator to work out the amount of income.

When deciding which type of annuity you need you need to consider all the options that are available. The best annuity rates from providers will vary depending on which options you have chosen in your annuity. The more options you choose in your annuity the less you will recieve in payments. Use the flexibility of the annuity calculator to see how much difference the options make to the income.

The best annuity rates always or nearly always come with a level annuity, this is where there is no guaranteed term the annuity will pay out over and no escaltion of the annuity in payment. Pension Annuities are a very complex area of financial planning and it is always best to seek the advice of an independent financial adviser. The financial adviser will conduct what is called a fact find where he will ask you about your personal circumstances before he is able to make a recommendation on the best annuity rates for you. You can search the internet to get details of your local independent financial adviser and they will find the best pension annuities using an annuity calculator.