Does Aegon offer annuities and how to get a quote

Aegon says it does not sell annuities, so an Aegon pension annuity comes from another insurer; a guaranteed rate applies only through Legal & General.

Pension Wise, the free and impartial government-backed guidance from MoneyHelper, is the place to start before you pick an income route. Rather ask a person about your Aegon pot? An FCA-authorised adviser takes annuity questions on a free call, set in motion by the form on this page.

Does Aegon provide annuities, or send you elsewhere?

Elsewhere. Aegon's guaranteed annuity option page says: "Aegon don't sell annuities however we’ve partnered with Legal & General to honour any guaranteed annuity rate (GAR) you’re entitled to." So any annuity bought with an Aegon pot is paid by another insurer, and the Legal & General arrangement is for people whose policy carries a guaranteed rate, covered further down.

The Aegon SIPP key features document, accurate as at April 2026, also leaves the choice of annuity provider to you. Tax-free cash and the claim forms for each Aegon plan are in how to access an Aegon pension.

What do Aegon customers do at retirement?

The Retiready planner lists what you can usually do from age 55 (57 from 6 April 2028), alone or combined: access the whole pot, set up a flexible regular income, set up a guaranteed regular income, take a cash lump sum, or wait and decide later. The guaranteed income is the annuity: "To make sure you get an income for life, you can buy an annuity", with up to 25% as tax-free cash.

The "Make it happen" page says the retirement options should normally reach you from age 50, then every five years, and again about six months before your expected retirement date. That tracks the FCA rule requiring a pension firm of this kind to send an open market options statement within two months of your 50th birthday and four to ten weeks before each fifth-year birthday after it, unless one went out in the previous 12 months or the pot is fully crystallised (COBS 19.4.5AR). Not near retirement but able to access your pot? Aegon says to contact it and a retirement options pack will be sent.

Not every option exists under every plan, and Aegon says contracts with a guaranteed minimum pension or guaranteed annuity option carry restrictions. Your contract type decides what is on the menu, so start with the policy documents. Papers hard to follow? The adviser phoning after your enquiry can go through the contract wording alongside you.

Guaranteed annuity rates and the Legal & General route

Some older policies carry a guaranteed annuity option. Aegon says these rates "were guaranteed when the policy or scheme was taken out, and may be better than the rates available to you on the open market". To find out whether your plan has one, it tells you to contact Aegon or your financial adviser.

If you do hold one, the route matters: "the GAR will only apply if you choose to take an annuity through Legal & General". Aegon also lists what ends the guarantee. You lose it if you transfer to another pension provider or to one of its platform products, take the full fund as a small pot or serious ill health lump sum, take an open market option, or (in some circumstances) take an annuity before age 60. Tax-free cash costs you the guarantee on that portion only. Before acting, read what a guaranteed annuity rate is and whether keeping one is worth it.

Buying an Aegon pension annuity from another insurer

The open market option means buying from an insurer of your choice rather than the one attached to your plan. The Aegon and Scottish Equitable Pension and Bonds forms include an open market option instruction form, for when the annuity provider you choose cannot deal with your request directly. If your policy carries a guaranteed rate, note that taking an open market option is one of the steps Aegon says ends it.

Aegon itself says it is important to shop around, because providers offer different rates and types of annuity and you "may get a higher retirement income with another provider". It adds that annuity rates can change substantially and rapidly, so the rate you see now may not be there on the day you buy. Annuity income from a pot covers what drives the amount, enhanced annuity rates covers health and lifestyle, and the types to price are in pension annuities explained. Two insurers already written up are Standard Life and Scottish Widows.

Whether an annuity beats drawdown for you is set out in annuity or drawdown, and can I withdraw from an annuity explains why the choice is hard to reverse.

Pension Wise before you commit

MoneyHelper says "a Pension Wise appointment explains your options" for people with a UK-based defined contribution pension, and you can book more than once. At 50 or over you can book online or by phone; under 50, you qualify only in cases such as ill-health early retirement or an inherited pension. Online appointments are for people aged 50 to 74, and a phone appointment lasts up to 60 minutes. Aegon's annuity page points to it too: "If you're over age 50, you can arrange an appointment with Pension Wise". Aegon's guaranteed annuity page adds that it "isn’t a financial advice service", so it explains your options without choosing an insurer for you. See what Pension Wise is.

Aegon also runs Aegon Assist, which it says can help if you "don't have a financial adviser". Once guidance is done, request a call-back here and an adviser can put the Aegon pot next to live annuity quotes. The guide to free annuity advice compares the routes, and your options at retirement gives the wider picture.

More on Aegon and annuities

Is there an Aegon annuity calculator?

Aegon's retirement planner has a calculator to "figure out how much retirement income you’ll need", comparing your savings with what you expect to spend. That is a planning tool. Because Aegon does not sell annuities, an annuity income figure has to come from the insurer that would pay it.

Can I take tax-free cash and still buy an annuity?

On a workplace plan, Aegon says the usual order is a 25% tax-free lump sum first, with the remainder available for an annuity. Your options letter shows what your own plan allows.

Can I delay the decision?

"Wait and decide later" is one of the options Aegon lists. If your policy has a guaranteed rate, check the terms before leaving it, using the page on what an Aegon pension is to identify your plan.

Who do I contact about an Aegon guaranteed annuity rate?

Aegon says your policy type is on the covering letter, under policy class, or on the schedule issued when the policy started, and it will confirm it on 03456 100 010. For the annuity itself it gives Legal & General's number, 0800 009 3867, and asks you not to send personal or financial details by email. L&G's own terms are in Legal & General annuity rates.

Where are Aegon's charges and annuity costs explained?

Aegon's own plan charges are in Aegon pension charges, and what buying an annuity costs is in annuity fees.

Got an Aegon pot and annuity quotes to compare? Send the call-back form here and an adviser phones you, free.