When obtaining quotes for annuities you need to consider whether or not you make qualify for any enhancements to the annuity rates that would be available for your age.
Smoker enhanced annuity rates are available for those who smoke at least ten cigarettes a day (or 85 grams of rolling tobacco per week) and have done so for at least the last ten years this has an effect on their life expectancy. We take this into account to give them a bigger annuity.
We believe in giving people the full benefit of their pension fund, taking account of their personal circumstances.
The providers we use carry out spot checks and in some cases obtain doctors’ reports to verify the smoking information provided in the application. If they find evidence that does not support the information the client has supplied and they are not eligible for smoker annuity rates their pension will be reduced. The reduction will be significant and the pension will be less than could have been received from another company. They may also recover any overpayments.
Other enhancements may apply for smokers and it is always best to consult with an annuity specialist to ensure that you get the best annuity rates possible. Remember once you have bought your annuity it cannot be changed.
For the Best Annuity Rates contact Retirement Solutions on 0800 043 6701