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Annuity rate @ 63

recordfair
recordfair Posts: 8 Forumite
Ninth Anniversary Combo Breaker
in Pensions, annuities & retirement planning
Hi,
looking at annuity rate tables they give rates @ 60 and 65. If you take an annuity between these ages does it default to the lower band or is done as an average between the 2? Thanks

Comments

  • dunstonh
    dunstonh Posts: 121,289 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    recordfair wrote: »
    Hi,
    looking at annuity rate tables they give rates @ 60 and 65. If you take an annuity between these ages does it default to the lower band or is done as an average between the 2? Thanks

    Some providers go by age attained. Some go by days, weeks or months. There is no uniform method.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Sobraon
    Sobraon Posts: 325 Forumite
    Part of the Furniture 100 Posts Name Dropper Photogenic
    The Money advice service has an annuity comparison tool here. One of the questions asked is your waist size :D so I think defaulting to 60 or 65 is unlikely.
  • dunstonh
    dunstonh Posts: 121,289 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Sobraon wrote: »
    The Money advice service has an annuity comparison tool here. One of the questions asked is your waist size :D so I think defaulting to 60 or 65 is unlikely.

    But dont rely on that site for pricing. It uses default pricing. An IFA will usually get higher than those.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • westv
    westv Posts: 6,608 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    dunstonh wrote: »
    But dont rely on that site for pricing. It uses default pricing. An IFA will usually get higher than those.


    HL have one to.
    Surely they are both useful for getting a ball park answer that isn't too far from what you'd get via an IFA?
  • dunstonh
    dunstonh Posts: 121,289 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    westv wrote: »
    HL have one to.
    Surely they are both useful for getting a ball park answer that isn't too far from what you'd get via an IFA?

    For ballparking, absolutely fine. if going with an actual purchase, then not.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    westv wrote: »
    HL have one to.
    Surely they are both useful for getting a ball park answer that isn't too far from what you'd get via an IFA?

    I update my profile with HL every couple of months to obtain an idea as to what's on offer. Provides a handy benchmark.
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