Lifetime annuity

George

George’s story - 64 years old

George wants a regular income for the rest of his life. He also wants to know exactly what he’s getting when. He plans on taking all of his 25% tax-free lump sum and buying an annuity with what’s left.

George's full story

George has a and will a month gross into it .

George knows the longer he pays into his pension fund the more he’s likely to get from an annuity which is why he’s made this choice.

When it’s time for him to retire, he plans on taking his 25% tax-free lump sum and buying an annuity with what’s left. So he could get around £186 a month until the day he dies.

Please click here to read the assumptions we’ve made

Scroll down to see George's figures

Money Advice Service pension calculator

Use the pension calculator to get a more detailed estimate of your monthly retirement income based on your circumstances.

Explore more stories

Stories about annuities

Helen wants her annuity to increase with inflation

Read Helen's story now

Dawn can get an enhanced annuity because of poor health

Read Dawn's story now

Jim wants to provide for his wife should he die first

Read Jim's story now

Stories about flexible access

Ted wants to take his 25% tax-free lump sum and then invest the rest

Read Ted's story now

June wants flexibility in how and when she accesses her money

Read June's story now

Stories About Other Options

Jill wants to take all of her pension in cash, now

Read Jill's story now

Nigel wants to continue working and leave his pension to grow

Read Nigel's story now

Return to: Taking your money

Go back to the taking your money home page to look at a different stage.

Taking your money

Taking your money

Have you thought about what your plans mean for your retirement income? Our calculators can help you work it out.

Retirement calculators

Combine your pensions

Got more than one pension? Then you could think about putting them all in one place. Combining your pensions with Scottish Widows is simple and we won't charge you for this service.

Pension transfers