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Annuities

We help you convert the money you have built up in your pension fund into a regular, guaranteed income for the rest of your life.

  • Enhance your retirement with an annuity to suit your needs
  • Get a better retirement income if you're in poor health
  • Our experts help you make the best choices for you

You can phone us on 0800 756 8840

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Useful information

Here are some frequently asked questions we've been asked about our annuities which you may find helpful before making your decision.

What is a Pension Annuity?

A Pension Annuity converts the pension fund you have built up over the course of your working life into a regular income that will be paid to you for the rest of your life.

Because it's paid to you for as long as you live, it's a kind of insurance policy to make sure you don't run out of money if you live longer than expected.

When can I buy an annuity?

You can buy an annuity from the age of 55.

Do I have to buy an annuity through my pension provider?

No. You can choose who you buy your annuity from - it doesn't have to be with the company that you used to build up your pension fund (this is known as the Open Market Option).

Can I provide an annuity for someone else?

Yes, but it'll only be payable in the event of your death.

You can decide to use your fund so that a pension continues to be paid to your beneficiary.

A beneficiary is someone who is either married to you (including civil partners), your chosen beneficiary or someone who, in the opinion of the scheme administrator is financially dependent, or dependent due to disability on you, at the date of your death.

I'm a smoker. Will this affect the annuity rates I get?

Possibly. We may be able to offer you an enhanced lifetime annuity if you're a smoker or suffer from certain medical conditions. Make sure you tell your financial adviser if you do smoke or have a medical condition as it could significantly increase your annuity income.

See our comparison table to help you decide which annuity product is best for you.

You can phone us


Call our UK-based advisers for more information or a quote:

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0800 756 8840
Quoting offer code IELO

TextDirect: 18001 0800 756 8840

8.30am - 6pm Monday to Friday

Existing customer?

If you're a Financial Adviser please call:

0800 169 1111

TextDirect: 18001 08001691111

We may record and / or monitor calls for training and audit purposes.

Retirement Guidance

Pension Wise Logo

For guidance on your defined contribution pension we recommend Pension Wise, a free government service offering impartial guidance on your pension options.

To book an appointment call:

0800 138 3944

8am to 10pm everyday

Pension Wise won't recommend any products or tell you what to do with your money.

Retirement Wizard

Get professional online retirement advice to help you get the most from your pension pot.

Why choose LV=

  • Winner of the 2015 Gold Standards Award for individual pensions
  • UK's largest friendly society

Help and FAQs

View commonly asked questions and answers regarding our annuity products.

Get advice

Speak to one of our advisers who can make sure you have the right cover for your needs.

Call: 0800 587 3057