Estimate the income an annuity could pay from your pension pot. Compare single vs joint, level vs escalating, and smoker rates using indicative 2026 UK rates.
8 min readUpdated April 2026
An annuity converts your pension pot into guaranteed income for life. UK annuity rates have improved significantly since 2022 because of higher gilt yields, with rates at age 65 currently around 7% for a single life level annuity.
Use the calculator below for an indicative quote. To get an actual binding quote you'll need to compare providers — an FCA-regulated adviser can run a whole-of-market search and check whether enhanced rates apply for any health conditions.
UK Annuity Calculator (2026)
Indicative annual annuity income from your pension pot.
Annuity rates depend on long-dated gilt yields, your age, health, and the type of annuity you buy. The calculator uses indicative 2026 rates: roughly 7% at 65 for a single-life level annuity, with adjustments for joint life, RPI escalation, and smoker status.
Age
Single Level
Joint Level
Single RPI
60
~6.0%
~5.4%
~4.5%
65
~7.0%
~6.0%
~5.5%
70
~8.0%
~6.7%
~6.5%
75
~9.5%
~7.8%
~8.0%
Important: These are indicative rates only. Real quotes vary by provider, gilt yields on the day, and your health. Always compare the whole market or use an adviser before buying.
Frequently Asked Questions
At age 65, a single-life level annuity from £100,000 currently pays around £7,000 per year. Joint life with 50% spouse pays around £6,000. RPI-linked starts lower (~£5,500) but rises with inflation.
Yes. UK annuity rates in 2026 are at multi-decade highs, driven by higher gilt yields. Rates at 65 (~7% single level) are roughly double the 2021 lows.
It depends on your priorities. Level annuities pay the most income upfront but lose value to inflation. RPI annuities start lower but protect purchasing power. Joint life protects a partner. Most retirees benefit from advice on the trade-off.
Annuity rates track gilt yields, which are unpredictable. Many retirees stagger purchases (buying annuities in tranches at 65, 70, 75) to spread the rate risk.
Yes. Smokers and those with certain health conditions can qualify for enhanced annuities, typically paying 5%-30% more income than a standard quote.
No. Once the cancellation period ends, an annuity is irrevocable. This is why getting independent advice before buying is essential.
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