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22 May 2024 last updated
Annuity Rates Changes
Annuity income - last 6 years
Based on figures for May 2024
Annuity Rates Chart 2013
 

Our benchmark annuity rates chart is £7,130 pa on 22 May 2024

Find out more details:
Monthly analysis of annuities and gilt yields


The chart shows pension annuity rates changes for our benchmark example for a fund of £100,000, male aged 65 with a single life, level annuity and no guaranteed period.

With the recent changes in gilt yields has significantly increased our standard pension annuity benchmark pension income since reaching an all time low of £4,696 pa in August 2016.

 
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Long term annuities are only -10.8% lower


Over the longer term annuity rates are currently high with income for a pensioner only -10.8% below levels in July 2008 when income levels were £7,908 pa.

The 15-year gilt yields increase by +37 basis points to 4.65% during April 2024 with providers of standard annuities increasing rates by an average +0.94% for this month and rates may rise by +2.76% in the short term if yields remain at current levels.

For smoker and enhanced annuity providers have increased their rates by an average of +1.86% and rates may rise by +1.84% in the short term if yields remain at current levels.


See Annuity Rates Review for the latest updates.
 
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15-Year Gilt Yields 15-Year Gilt Yields
The 15-year gilt yields have a significant effect on annuity rates which we update daily.

Annuity Rates
Single
  55 £6,157  
  60 £6,591  
  65 £7,295  
  70 £8,213  
Joint
  55 £5,902  
  60 £6,307  
  65 £6,868  
  70 £7,669  
£100,000 purchase, level and standard rates
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