£250,000 annuity calculator: compare income and contract options.

At £250,000, tax becomes a bigger part of the comparison because annuity income is taxable pension income. The combined effect of annuity income, State Pension, employment income, savings income and other pensions can matter more than the annuity figure in isolation. Different mixes of annuity, drawdown and tax-free cash can produce different income timing and tax outcomes.