Results
These examples give you an idea of the income our retirement products might provide. They assume you take the maximum 25% tax-free cash sum available but you can choose to take less. The annual result is made up of 12 equal monthly payments. The results are examples only and aren't advice. The actual income you can get will depend on your individual circumstances.
Guaranteed income for the rest of your life
Pension Annuity
- Can pay a higher income if you have health conditions or lifestyle risks.
- Can provide an income for your spouse, civil partner or beneficiary after you die.
- Can’t change your options once the plan has started.
The figure above shows the gross income before any tax is deducted. We've assumed you're in perfect health, your postcode may impact any subsequent quote. For a personalised quote, click ' Quote & apply'.
Guaranteed income for a set period and lump sum at the end
Fixed Term Retirement Plan
- You decide the amount of income and lump sum.
- Option to make withdrawals from lump sum or cash in whole plan.
- Higher income not available for health conditions and lifestyle risks.
The figures above show the gross income and lump sum before any tax is deducted. You are able to change the term and lump sum selected above.
Guaranteed income for a set period
Cash-Out Retirement Plan
- You decide the amount of income and how long it's paid.
- Option to cash in whole plan.
- Higher income not available for health conditions and lifestyle risks.
The figure above shows the gross income before any tax is deducted. You are able to change the term selected above.
Flexible income you can take when you want, it’s not guaranteed
Personal Pension Drawdown
- You decide the amount of income and when it’s paid
- The value of your pension can go up or down and you could get back less than you paid in
- Income isn't guaranteed, you could run out of money
The 'Annual income' figure shows the amount before any tax has been deducted. You can change it using the drop-down – the more you take, the less time your money will last. You can see the effect of three different rates of return on the size of your pot by using the 'Investment return' drop-down.
Take it all as cash
The total cash payment shown below includes the 25% tax-free amount
- Take whole pension pot in one go.
- You could pay more tax than other options.
- Money might not last as long as you need.
Retirement Advice Service
Our advisers are experts in retirement and are regulated by the Financial Conduct Authority (FCA) to give advice on an independent basis. That means they won’t just include our products in the recommendation they give you – if there’s a better option available, they’ll let you know.
Our advisers will help you understand:
- What income you’ll need in retirement
- What you’ll have, and
- What your options are, including tax implications and allowances you can take advantage of
Our retirement planning advice team is an independent service provided by Legal & General Financial Advice, as part of the Legal & General Group.
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Looking at other ways to fund your retirement?
If you’re a homeowner aged 55 or over, and your property is worth more than £70,000 or £100,000 depending on your property type then you could consider a lifetime mortgage.
A loan secured on your home, a lifetime mortgage could help you release some equity from your home to spend on yourself, your home or your family. Try our calculator to find out how much you could release.
Next steps
Now that you've been given a helpful estimate of your potential retirement income, why not look at other products available as part of your shopping around. Other providers may have more appropriate products or be able to offer a higher level of income.
Need help?
Making decisions about how to finance your retirement is important so it’s worth shopping around and using available guidance and advice, before you buy.
Retirement guidance
Pension Wise from MoneyHelper
The government’s free and impartial service, offering guidance to make money and pension choices clearer.
To find out more or book an appointment online click below or call.
0800 138 3944
8am to 6.30pm, Monday to Friday.
Calls may be recorded and monitored.
Speak to us
Our colleagues in Cardiff are always happy to answer your questions or help you apply for a quote.
0808 189 9551
Monday to Friday
9am to 5pm
We may record and monitor calls.
Retirement advice
Retirement Advice Service from Legal & General
Our advisers are experts in retirement regulated by the Financial Conduct Authority , so you can trust them to provide impartial advice and a personal recommendation that’s right for you.
0808 304 9155
Our team is available between 9.00am and 5.00pm, Monday to Friday. Calls may be monitored and recorded.