Looking for the most up-to-date annuity rates? Our easy-to-read tables show the latest rates for both single life and joint life annuities, giving you a clear view of where rates sit right now.
The data comes from a comparison of top providers – including Aviva, Canada Life, Legal & General, Just, Scottish Widows and Standard Life – to help you see who’s offering the best deals today.
A single life annuity lets you turn your pension savings into a guaranteed income that lasts for life. When you pass away, the payments typically stop, although you can choose to add death benefits if you’d like to leave a lump sum or ongoing income to someone else.
The rates below show what someone could get by using £100,000 from their pension pot to buy a single life annuity that pays a level income for life, without any added death benefits.
Age | Annual income | Annuity rate | Provider | |
|---|---|---|---|---|
60 years | £6,974.88 | 6.97% | Aviva | Get a quote |
65 years | £7,584.12 | 7.58% | Legal & General | Get a quote |
70 years | £8,442.84 | 8.44% | Legal & General | Get a quote |
75 years | £9,869.88 | 9.87% | Aviva | Get a quote |
A joint life annuity works much like a single life annuity, turning your pension savings into guaranteed income. The difference? When you pass away, it keeps paying a regular income to your chosen beneficiary – either the full amount or a set percentage of what you were receiving.
The rates below show what someone could get by using £100,000 to buy a joint life annuity that pays a level income for life.
Age | Annual income | Annuity rate | Provider | |
|---|---|---|---|---|
60 years | £6,883.80 | 6.88% | Scottish Widows | Get a quote |
65 years | £7,606.68 | 7.61% | Scottish Widows | Get a quote |
70 years | £8,340.12 | 8.34% | Scottish Widows | Get a quote |
75 years | £8,867.88 | 8.87% | Legal & General | Get a quote |
Age | Annual income | Annuity rate | Provider | |
|---|---|---|---|---|
60 years | £6,426.00 | 6.43% | Scottish Widows | Get a quote |
65 years | £7,001.64 | 7.00% | Scottish Widows | Get a quote |
70 years | £7,603.44 | 7.60% | Scottish Widows | Get a quote |
75 years | £8,244.72 | 8.24% | Legal & General | Get a quote |
About this data: These annuity rates are provided by our annuity partners Retirement Line from their in-house system that gathers quotes in real time from the UK’s top annuity providers. Rates are based on conventional lifetime annuities for people living in a Peterborough postcode, with level payments set to monthly in arrears. For the joint life examples, both people are the same age.
Annuity rates reflect a balance between risk and reward. Providers estimate how long they’ll need to make payments and the returns they can earn from investing your pension pot. Generally, the higher the returns they expect – and the shorter the period they expect to pay you – the higher the rate and the income you can receive.
Rates are also influenced by the wider economy. Interest rates, inflation, and government bond yields (gilts) all play a role in determining what an annuity provider can safely promise. When gilt yields are high, annuity rates tend to rise; when yields fall, rates usually drop.
In short, annuity rates are shaped by a mix of market conditions and your personal circumstances. They aren’t fixed, so they vary over time and between providers, which is why comparing rates across the market can have a real impact on the income you receive in retirement.
No two annuity rates are exactly the same; each one is tailored to the individual. Providers consider a mix of personal circumstances, the type of annuity you choose, and wider economic factors before offering you a rate.
This means the rate one person receives could be very different from someone else, even if their pension pots are similar. That’s one reason why it’s important to compare multiple annuity providers rather than simply accepting the first rate offered.
Here’s a quick look at the main things that can affect the rate you’re offered:
Provider base rates: Annuity providers base rates partly on economic factors like UK gilt yields, which fund the income they pay to clients.
Size of your pension pot: Generally, a larger pension can sometimes mean a slightly higher rate.
Your age: The older you are, the higher your rate, as life expectancy affects the rate.
Where you live: Your postcode can influence rates as life expectancy varies across the country.
Health and lifestyle: Conditions, medications or lifestyle factors (like smoking) may qualify you for medically enhanced annuities with higher income.
Annuity options: Choices like inflation-linked increasing income and death benefits can change the rate and payment size.
Preferential rates: As a leading UK annuity broker, our annuity partners, Retirement Line, may be able to secure better rates through their relationships with providers.
Annuity rates have seen a significant rebound in recent years. In May 2025, for example, Standard Life reported that the average annuity rate for a healthy 65-year-old reached 7.72%, a substantial increase from 4.71% in July 2020.
This rise has primarily been due to higher government bond/gilt yields, which are closely linked to interest rates. As interest rates have increased, so have the returns on these bonds, leading to improved annuity rates.
This upward trend has made annuities potentially more attractive to retirees seeking guaranteed income. However, it's important to note that annuity rates can fluctuate with changes in economic conditions. While they have been rising, future changes in interest rates and market dynamics could impact these rates.
Therefore, it's advisable to keep abreast of what annuity rates are doing. Why not bookmark this page to make regular rate checks easy? Plus, you can use our free annuity calculator to see what the latest rates could mean if you were to buy an annuity with some or all of your pension savings.
Finding the ‘best’ annuity rate isn’t always just about picking the highest number – it’s also about selecting the right type of annuity for your personal circumstances.
Consider your options carefully. Choices like level or increasing income, death benefits and lifetime vs fixed-term annuities can all affect the rate you receive. Even small changes in how you tailor your annuity to your needs can have a noticeable impact on your income over time.
Working with a specialist can make the process easier. Our partners Retirement Line compare rates from the UK’s leading providers, helping you find the annuity that gives you the most secure and suitable income in retirement.
