What is an annuity rate table?
When it comes to choosing an annuity it is often one of the most important decisions that a person will make during their lifetime, this is a choice as to where they want to put their future investments and how much income they will receive from them for the rest of their lives. Choosing an annuity can be a stressful task and with such a wide range of options on the market you want to make sure that you select what is best for you.
As annuities is such a big business there are so many different options on the table offering a wide variety of plans and options tailored to meet the needs of almost any individual. The problem here is that choosing between the annuity plans can be difficult. When you are confronted with a wide range of different options it can often be confusing as to which might be the best plan for you. In this situation an annuity table can help you to choose the right annuity plan, which best suits your needs.
What information does the table give me?
Annuity tables basically draw a comparison between a range of different annuities, these are designed specifically as a guide to show you what is on offer and how much annuity income you may be able to get from each provider. In general the tables will list an average return amount for a standard investment amount such as £100,000. This will give you a quick and easy overview as to what each pension provider offers.
More sophisticated annuity tables are divided into different categories, listing amounts in the same way for a range of different annuity options including joint life annuities, single life annuities etc… or dividing your options into age groups, so you can specifically target your existing age group.
How can I use this information?
Information found in annuity tables can be used as a guide to give you some idea of the kind of returns that you can look to expect from your income, but it should be noted that many companies do not publish their figures in annuity tables so it is still worth shopping around to try and find the best annuity.