A welcome shelter from the storm?

The retirement income market is ready for change. Customers are generally living longer. They may worry about running out of money in their later years. And they’re likely to want greater certainty over their retirement income.

These trends, coupled with the fact we’re experiencing sustained periods of market volatility, have undoubtedly made the core benefits of a pension annuity almost impossible for many to ignore.


9 in 10
say a guaranteed income in retirement is important to them1

1 in 4
men age 65 today are likely to live until they're 922

worry their pension savings won't last their full lifetime1

¹Retirement Voice, Standard Life, October 2023
²ONS Life Expectancy Calculator

A guaranteed income for life - no matter what

With a Standard Life Pension Annuity you can help your clients enjoy a retirement income that’s cemented in certainty, and guaranteed to last for as long as they do.

It’s a relentlessly reliable income solution

  • Gives your clients peace of mind that they’ll always have a steady income coming in.

There’s a range of optional features

  • Add yearly increases to your client’s annuity payments.
  • Choose from a range of death benefits, including cash lump sums or a lifetime income for a dependant.
  • You can find out more about the features we offer, along with how much they might cost, in our What do the added benefits cost? guide.

We offer enhanced rates

It’s potentially suitable for your clients if they:

  • Want a regular, guaranteed lifetime income.
  • Would like the option of having their income increase each year, either in line with inflation or by a fixed rate.
  • Would like the option to provide a lump sum or a regular, guaranteed lifetime income for a dependant when they die.
  • Would like to avoid their retirement income being impacted by investment risk.
  • Are happy to accept that they can’t change or cash in their annuity once it’s been set up, even if their circumstances change.
  • Are happy to accept that the total income they receive over the life of their annuity may be less than the total amount that was used to buy it.
  • Live in the UK.

It’s unlikely to be suitable for your clients if they:

  • Have less than one year to live.
  • Have less than £10,000 in pension savings.
  • Would like the freedom to make changes to their retirement income payments, such as taking additional cash lump sums.
  • Would like to keep their pension savings invested so they can potentially benefit from future investment growth.
  • Would like their dependant to benefit from any remaining savings in their pension pot when they die, without having to buy additional guarantees or protection.
  • Are happy to accept that their pension savings could run out before they die.
  • Have declared bankruptcy and the fund value of their pension plan has been earmarked to settle some or all of the outstanding debts.

Age limits

To buy a Standard Life Pension Annuity, your clients must be aged at least 55. We may also accept younger clients if they’re retiring due to ill health, or if they have a protected retirement age.

The maximum age we can accept is 85 for Open Market Option (OMO) cases, and 74 for transfer (IVPP) cases.

Purchase price

The minimum amount your client will need to buy a Standard Life Pension Annuity is £10,000 - after any tax-free cash and adviser charges have been deducted.

We don’t have a maximum - but you should get in touch with us about any plans that are valued at over £1,000,000 as we’ll need additional checks to be completed before we can give you a guaranteed quote.

Product charges

We include all our expenses for setting up and running your client’s annuity when we work out how much their income will be. We don’t take anything from your client’s ongoing annuity payments.

Adviser charges

We can facilitate a variety of adviser charging structures, so you shouldn’t need to change your pricing model in order to work with us.

Read our key documents

Document Adviser guide

Read more about who our annuity is for, tailoring it to your client's needs and the benefits of enhanced rates.

View the adviser guide


Document Key features

Give your clients more information on the main features, benefits and risks of this product.

View key features document


Document Target market guide

Find out more information about target market and product governance.

View target market guide



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The information on this site is for qualified financial advisers and must not be relied on by anyone else. If you are not an adviser please go to our customer website for more information about our products and services.