Legal & General Style Annuity Estimate Calculator
Use this quick tool to estimate what level of retirement income your pension pot could buy as an annuity.
How to use this annuity calculator for Legal & General comparisons
If you searched for an annuity calculator legal and general, you’re likely trying to answer one practical question: “How much guaranteed income can I get from my pension pot?” This page gives you a clean, realistic estimate so you can plan better before asking for formal quotes.
The calculator above is an educational model inspired by common UK annuity pricing factors. It is not a live quote engine, but it is useful for understanding how different choices can change your income.
What affects annuity income the most?
1) Pension pot size
The bigger your pension pot, the more income you can buy. If you take tax-free cash first, the remaining balance is lower, so your annuity income drops.
2) Age at purchase
Older buyers usually receive a higher annuity rate because payments are expected to run for fewer years on average.
3) Single vs joint life annuity
A single life annuity typically pays more while you are alive. A joint life annuity keeps paying some income to a spouse or partner after you die, so starting income is usually lower.
4) Level vs increasing income
Level income starts higher but stays flat. Increasing options (fixed 3% or inflation-linked) start lower but may better protect spending power over time.
5) Guarantee period
A guarantee period means payments continue for a minimum term (for example, 5 or 10 years), even if you die earlier. This valuable feature often reduces initial income.
6) Health and lifestyle
Some people may qualify for an enhanced annuity due to medical conditions or lifestyle factors. Enhanced rates can materially increase starting income.
Quick interpretation guide
- Rate: The implied annual payout percentage on the annuity purchase amount.
- Gross income: Before tax.
- Net estimate: A simple basic-rate tax illustration for planning only.
- Frequency view: Helps you budget monthly, quarterly, or annually.
Example planning scenario
Suppose you have a £150,000 pension pot at age 67, choose a single life level annuity, and take no tax-free cash. You may see a materially higher annual estimate than someone aged 60 buying a joint-life, inflation-linked annuity with a 10-year guarantee. Neither is “better” in every case—each choice reflects different priorities (income now vs protection later).
Before you commit to any provider
Whether you are reviewing Legal & General or any other provider, compare options carefully under the Open Market Option process and confirm:
- Annuity type and death benefits
- Inflation protection features
- Guarantee period terms
- Partner pension percentage
- Medical underwriting availability for enhanced rates
- Tax implications and your wider retirement plan
Important note
This calculator provides a planning estimate only and does not represent a formal offer from Legal & General or any regulated advice. Rates move over time and personal underwriting can change final results. For a binding quote, use an FCA-regulated source or speak to a qualified adviser.