An annuity rates calculator is designed to help you to understand how much of an income you can get from taking out an annuity. To use them all you need to do is to key in your date of birth, the date you are planning to retire (or have actually retired), what is in your pension pot and some contact details. A few calculators require further information; however, the vast majority only require the above four basic pieces of information.
By clicking enter you usually get back a figure which shows you how much of a yearly income you can expect to receive.
Getting the Most from an Annuity Rates Calculator
To get the most out of an annuity rates calculator it is very important that you put accurate data into it. The figure that is most important is the amount that is in your pension pot. This figure is something very few people really understand and know. Therefore, before sitting down to use these calculators double-check with your current pension advisers or suppliers exactly how much is available in your current pension pot(s). Remember, if you have more than one pension you need to check with each fund provider how much you have in each pot.
You need to bear in mind that annuity rates calculators are only designed to give you an overview or ballpark figure. This means that you need to take this information and do further research. Use these calculators to compare annuity rates from a variety of annuity providers. Using these calculators, you can build a shortlist of providers who will give you the best annuity rates.
Finding the Best Annuity Rates Calculator
The best annuity rates calculator is one that allows you to key your information in once and brings back quotes from several providers. You can find these using the search term ‘comparison annuity rates calculators’. Be careful not to use the calculators provided by individual annuity providers. These calculators will only bring you back rates for products they sell rather than rates from the full range of annuity providers.
Age Partnership has a fantastic annuity rates calculator available on their website. It is quick and simple to use and the results are easy to understand.