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9 October 2024 last updated

Annuity Rates Changes

Annuity income - last 6 years

Based on figures for October 2024

Our benchmark annuity rates chart is £7,183 pa on 4 October 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 -9.1% lower

Over the longer term annuity rates are currently high with income for a pensioner only -9.1% below levels in July 2008 when income levels were £7,908 pa.

The 15-year gilt yields increased by +5 basis points to 4.34% during September 2024 with providers of standard annuities increasing rates by an average +0.25% for this month and rates may rise by +0.25% in the short term if yields remain at current levels.

For smoker and enhanced annuity providers have increased their rates by an average of +0.79% and rates may decrease by -0.29% in the short term if yields remain at current levels.

See Annuity Rates Review for the latest updates.

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	Annuity Rates Chart Read the latest annuity rates review to find out if this is the best time to buy an annuity.

15-Year Gilt Yields
The 15-year gilt yields have a significant effect on annuity rates which we update daily.

Annuity Rates

Single

	55	£5,984

	60	£6,415

	65	£7,145

	70	£8,018

Joint

	55	£5,700

	60	£6,061

	65	£6,714

	70	£7,475

£100,000 purchase, level and standard rates

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