Enhance your retirement annuity income even further

Enhance your retirement annuity income even further

It is estimated that almost 40% of people entering retirement could receive an enhancement on their annuity retirement income.  Whether you have suffered from a heart attack or cancer, whether you are a diabetic or have high cholesterol and high blood pressure, whether you are a smoker and have been so for the last 10 years or even if you live in an area where average life expectancy is lower then you have the possibility of increasing your annuity income further.

This is one of the few opportunities where actually suffering from a medical or lifestyle condition may work in your favour.

So how would this benefit me? I hear you ask.

If you are unfortunate enough to have your pension with a company that offers poor annuity rates you could be losing out.   A male aged 60 who smokes and is retiring now with a pension fund after taking the maximum tax free lump sum of £67,500 could secure an annuity income of £5,235 gross per annum.  If you compare this to the lowest annuity rate offered of £3,960 he could b losing out on£1,275 per annum.  If he were to live to average life expectancy of 85 then he could lose out on £31,875.

The enhancement highlighted here only take into account the fact that he is a smoker.  The enhancement received could be considerably higher depending on the medical condition you have.

You may not have your existing pension with the lowest annuity rate provider, however, on the other hand you may.  If you believe you may be able to obtain a higher rate due to an existing medical or lifestyle condition then take time out to consider the options. You may have been penalised on other insurance products you have had due to your medical condition.  Do not penalise yourself further by not investigating this avenue.

To speak to one of our Annuity experts ring 01225 823950.