Northerner
Admin (Retired)
- Relationship to Diabetes
- Type 1
Britons are missing out on billions at retirement by failing to shop around for the right annuity.
Instead of exercising the open-market option, most savers are choosing to simply accept the annuity income offered by their pension company.
What's more, people with medical conditions such as high blood pressure or diabetes are particularly losing out as they are accepting an annuity income based on their being in perfect health, rather than a potentially higher income reflecting a reduced life expectancy.
http://www.independent.co.uk/money/spend-save/brits-miss-out-on-billions-at-retirement-2305844.html
Personally, I think I may live longer than I otherwise would have done because I'm a lot more inclined to look after myself! 🙂
Instead of exercising the open-market option, most savers are choosing to simply accept the annuity income offered by their pension company.
What's more, people with medical conditions such as high blood pressure or diabetes are particularly losing out as they are accepting an annuity income based on their being in perfect health, rather than a potentially higher income reflecting a reduced life expectancy.
http://www.independent.co.uk/money/spend-save/brits-miss-out-on-billions-at-retirement-2305844.html
Personally, I think I may live longer than I otherwise would have done because I'm a lot more inclined to look after myself! 🙂
