Fixed Annuity Calculator
Retire on Track LLC.
Making the decision about your retirement is no easy matter and the Fixed Annuity Calculator will help you choose.
You've worked hard all your life to provide for your family and now your pension fund has to be made to work for you and the choices you make will determine your financial security for the rest of your retirement.
An annuity is an insurance contract paid for with the amount of money you have available in your pension fund, whether it is from your employer or private pension funds.
The value of your pension fund is exchanged for a promise of an annual income for life from the annuity - this is your pension income.
How much pension income you are paid in retirement will be determined by a number of factors including your age at retirement, the size of your pension fund, prevailing annuity rates and dependants benefits.
During our working lives, many of us want the security of knowing exactly what our outgoings and income will be so we can avoid the odd curved ball that life throws our way. During our working lives we have the luxury time and earning power to work our way out of life's hiccups but when we retire, it's our pension we have to rely upon.
Retiring with a Fixed Annuity will provide you and your loved ones with the peace of mind that no matter what happens, you will always have a guaranteed income that will allow you to budget exactly during retirement.
The Fixed Annuity Calculator will let you see how much your pension funds will provide and the effect on your pension income of
- your age: the younger you are the longer the pension will be paid and so the lower the annual income
Press the Blue Button below and select different retirement ages to see the effect on your income from a Fixed Annuity
- annuity rates: this is the rate of income you are paid on your fund for the duration of the pension and it depends on prevailing economic and interest rate factors at the time you convert your pension fund into pension income
Press the Red Button to see how much pension income your fund will provide with a Fixed Annuity
- dependants pension: if you have a spouse you may decide that you need to ensure that if you die before they do, they will still receive an income in retirement. This again reduces the total value of the pension income payable as a pension is being paid based on who will die later of two people and not one.
Press the Blue Button below to see how you can ensure your dependants can be provided for with a Fixed Annuity
Making the choice of how to maximixe and secure your income in retirement is a decision that requires very careful consideration. Once you have decided on a contract there is no facility to alter it for the rest of your retirement so choose wisely and we're here to help you.