Annuity Rates Chart | latest changes to pension income (2024)
11 August 2024 last updated
Annuity Rates Chart
Annuity income - last 17 years
Based on figures for August 2024
Our benchmark annuity rates chart is £7,255 paon 9 August 2024
The pension annuity rates chart is the latest with income of £7,255 pa based on our benchmark example for 65 year, £100,000 fund on a single life, level and no guaranteed period.
The pension income reached an all time low of £4,696 pa in August 2016.
This is based on all single and joint annuitants aged 55 to 75 and with three types of features selected, level, level with a 10 year guaranteed period and 3% escalation.
Annuity rate changes are closely linked to the 15-year gilt yields and ss a general rule a 30 basis point rise in yields would increase annuities by 3.0% although the providers may take time to introduce these changes depending on their own strategies.
The 15-year gilt yields decreased by -19 basis points to 4.30% during July 2024 with providers of standard annuities increasing rates by an average +0.07% for this month and rates may fall by -1.97% in the short term if yields remain at current levels.
For smoker and enhanced annuity providers have decreased their rates by an average of -0.11% and rates may fall by -1.79% in the short term if yields remain at current levels.
Impaired annuity rates remain volatile with providers increasing annuities and changing the pricing and margins on different medical conditions on a regular basis.
Other charts
Annuity Rates Changes Find out about the latest changes in annuity rates and if they are rising or falling.
15-Year Gilt Yields The 15-year gilt yields have a significant effect on annuity rates which we update daily.
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