An article in the Daily Express today (May 1, 2012), How Millions Miss Out on Better Pensions, said that millions of people are missing out on enhanced annuities and are entitled to bigger pension payouts. This could mean the difference between a comfortable retirement or one bordering on poverty.
The article stated that 70 per cent of people approaching retirement were entitled to bigger payouts, but last year only two per cent applied for them. People aren’t aware that minor medical conditions or lifestyle factors such as smoking are enough for pension providers to pay out more. People are therefore accepting poor arrangements which can lead to a lifetime of low income in retirement.
A man aged 65 who smokes or has a high blood pressure or high cholesterol could receive £150 a month more if he chooses the right annuity – the guaranteed income for life bought with his pension pot.
These shocking statistics reflect the need for thorough research to find the best annuity rate possible, especially as so many people are still unaware of enhanced annuities if they suffer from medical problems.
We will ensure that you are clear about all of the opportunities being offered in the annuity market, and will represent you and take care of your best interest. Failing to get the right deal could result in thousands of pounds in lost income.
For more information about what we can do for you to improve your annuity income, please contact us on 01622 664440, or email us at email@example.com. Alternatively, get started now by completing the short form on the right of this page.