Enhanced Annuities – Do You Qualify?

Mr Rogers has reached normal retirement age and is a member of his employer’s group pension scheme.

We were asked to provide quotations for an annuity bought under the Open Market Option. We quickly identified that Mr Rogers had medical conditions that might enable him to qualify for  Enhanced  Annuities (he had diabetes and bronchitis).

We initially obtained a standard rate illustration but after establishing further facts concerning his medical background, we were able to secure an uplift to his pension of 22% above the standard rates, by negotiating with several specialist annuity rate providers.

Based on standard rates, Mr Rogers pension fund (£30,800) would purchase an annual income of £2,323. Based on enhanced rates for impaired health, Mr Rogers fund eventually secured an income of £2,830, which equates to an additional £507 per annum.

Examples of some of the conditions that may qualify

  • cancer
  • heart conditions
  • diabetes
  • asthma
  • obesity
  • high blood pressure
  • organ transplants
  • stroke
  • liver disease
  • alzheimer’s
  • chronic lung disease
  • kidney disease
  • multiple sclerosis
  • Parkinson’s Disease
  • or a disease of the central nervous system.

For advice on annuities call 0800 043 0725