Retirement
Half of 65 year-olds could get more retirement income
Half of Britain’s retirees could be entitled to higher income due to a health or lifestyle condition that qualifies them for an enhanced annuity.
The latest analysis from annuity provider Partnership also highlights that a typical 65-year old with a common condition could receive an average 25% in extra pension income. This is after taking into account the recent gender pricing changes.
The top 5 enhanced annuity medical conditions identified by Partnership are:
- diabetes,
- cancers,
- strokes,
- high blood pressure
- and chronic obstructive pulmonary disease.
While the top lifestyle conditions include smoking and diabetes.
Andrew Megson, director of retirement at Partnership, said: “When a person is looking to convert their pension into an annuity, they should always declare all current and historic medical and lifestyle conditions.”
