Retirees can now secure £8,433-a-year on top of state pension: 'Highest rates since 2008'

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Retirees can now secure £8,433-a-year on top of state pension: 'Highest rates since 2008'.

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Annuity rates have reached their highest level in 18 years, allowing retirees to secure larger guaranteed incomes from their private pension savings.New figures from Standard Life's latest annuity tracker, based on July 2026 data, show someone aged 70 or over with a £100,000 private pension pot can now secure an annual guaranteed income of £8,433, equivalent to an annuity rate of 8.43 per cent.The income would be paid in addition to any state pension a retiree is entitled to receive.For people aged 65 and over, the average annuity rate now stands at 7.75 per cent, which Standard Life said is the highest level recorded since August 2008.

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TRENDING Stories Videos Your Say The figures are based on average market rates for a £100,000 pension pot before tax.An annuity is a financial product that allows someone to exchange some or all of their private pension savings for a guaranteed income that is typically paid for the rest of their life.The money used to buy an annuity usually comes from...

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