Aviva – Annuity Retirement Income Calculator
One of the questions we get asked frequently by those approaching retirement, is, “how much retirement income will I get from my pension fund?” When you sit and think about it, it really is the sort of question we all want an answer to. The problem is that with your pension fund you can buy different types of retirement income, there is lifetime annuities, fixed term annuities, asset-backed annuities and income drawdown, so it really does get quite complicated.
Fortunately Aviva, the UK pension company recently launched a new retirement income calculator that takes you through some of the decision making process interactively. It really is so simple to use. Here is what Aviva say on the first page:
If you’re close to retirement and want an idea of how much income you may get during your retirement, you’re in the right place.
The retirement income calculator shows you what type of pension annuity may be right for you and how much income you could get, whatever your health or lifestyle. The quote you receive isn’t guaranteed.
You can use the calculator even if you don’t have a pension with Aviva. Remember that you can shop around for your annuity. We can only offer online quotes to UK mainland residents. Source: Aviva
For those that think an annuity is the right option for them, Aviva also have a quick quote facility that will give you a personalised annuity illustration. Of course, you need to remember that this is just from Aviva and to ensure you get the best retirement income you really do need to search the entire market and take advantage of your ‘Open Market Option’. Here at annuityrates.co.uk we always recommend that you seek independent financial advice.