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Smoker Annuity Rates
Use the smoker pension annuity rates tables if you smoke more than ten cigarettes per day or 3 ounces of cigarette tobacco per week and have done so for the past ten years. You will qualify as a smoker so simply use the FREE quote service and receive higher Unisex annuity rates from the providers than the standard quote. Have a look at annuities or annuities explained for general annuity information.
  Standard Annuity Rates Smoker Annuity Rates Impaired Annuity Rates Pension Drawdown Rates With Profits Rates Purchased Life Rates Immediate Needs Rates
  9 February 2024 last updated
These smoker pension annuity rates are adjusted for the Unisex rates on a gender neutral basis that applyed from 21 December 2012. It assumes a pension fund of £100,000 after the tax free lump sum of £33,333 has been taken from the full fund of £133,333 for males, females and joint life basis are shown.


Record Rise in Annuity Rates:

The tables show percentage rise in pension annuity rates 'green box' compared to the historically low levels in December 2021, effectively a payrise for pensioners taking benefits at retirement. The biggest monetary gain is for those aged 55 years, 1single life with level income up +51% and the monetary amount is £2,138 pa. The biggest percentage gain is for those aged 55 years with joint 50% and 3% escalation up +83% and the monetary amount is £1,739 pa.
 
Single Smoker Annuity Rates
Age Level annuity rate
no guarantee
Level rate +
10-year guarantee
3% escalation
no guarantee
55 £6,309 51% £6,219 50% £4,334 72%
60 £6,697 44% £6,570 41% £4,778 59%
65 £7,618 35% £7,333 33% £5,735 45%
70 £8,613 29% £8,067 26% £6,764 36%
75 £10,171 26% £9,007 20% £8,343 31%
For annuity rates specific to your circumstances, ask for a quote today Free Annuity Quote
Joint Smoker Annuity Rates
Age Level annuity rate +
50% Joint Life
Level annuity rate +
100% Joint Life
3% escalation +
50% Joint Life
55 £5,812 58% £5,445 61% £3,841 83%
60 £6,204 48% £5,748 50% £4,297 65%
65 £6,801 37% £6,192 40% £4,946 49%
70 £7,547 32% £6,874 36% £5,745 40%
75 £8,654 28% £7,939 34% £6,895 34%
For annuity rates specific to your circumstances, ask for a quote today Free Annuity Quote
Table 1: Smoker pension annuity on a single and joint basis for 1 February 2024
 

Annuity rate notes:
The table shows the best open market option pension annuity rates for smoker single annuitants based on:

Purchase price of £100,000 - this assumes an original pension fund of £133,333 and after the tax free lump sum of £33,333 has been taken;
   
Annuity rates are payable monthly in advance and show the gross income (before deduction of tax);
   
Level annuity rates pay the same income per month for the whole of the annuitants life;
   
Level annuity rates + 10-year guarantee pay the same income per month for the whole of the annuitants life and in the event of an early death, guaranteed to be payable to the estate for 10 years from the start of the pension annuity;
   
3% escalation annuity rates increase the monthly payments each year by 3% for the whole of the annuitants life;
   
Annuity rates are for single males or females from the ages of 55 to 75 years based on gender neutral pricing for Unisex rates. Joint life rates assume both are the same age.
   
No medical enhancements are included in these rates.
   
The annuity rates table is only a guide as rates change frequently. Please request a free annuity quote for an accurate income for your retirement annuity.

At retirement you can use your pension to buy an annuity with the option to use an open market option to search for the highest smoker pension annuity. Once you have purchased an annuity it cannot be changed, so learn more about annuities, compare annuity rates and before making a decision at retirement, secure a personalised pension annuities quote offering guaranteed rates.
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