Personal Finance News

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million

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This Week's Personal Finance News Update

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million
30/10/12 - More than half of parents are unaware of Junior ISAs
30/10/12 - Over 80% of advisers name 'cost & administration' as top employer concern
30/10/12 - Brits left with £1.4bn repair bill during 'mischief week'
29/10/12 - East of England landlords at apex of yield chart
29/10/12 - Buyers more optimistic about Scottish property market

News

21/06/2012 14:02:46

Medical conditions can boost annuities

New research has revealed that certain groups of people are unaware that their medical conditions can lead to them receiving a greater retirement income.

Partnership, an enhanced annuity provider, has found that people who have suffered diabetes, a stroke or cancer are most aware that they can boost their retirement income.

However, those that are living with chronic obstructive pulmonary disease and high blood pressure are the least aware, despite the latter being by far the most common condition of the five in the UK.

"There is still a lack of understanding as to what conditions are entitled to an enhancement," said Nigel Barlow of Partnership.

"People with less severe conditions are still not volunteering this to their financial adviser."

Mr Barlow added that this subject is one about which professional financial advisers should be asking their clients during initial discussions.

"Too many retirees are averse to declaring their full medical circumstances, often incorrectly believing it will result in a negative outcome," he said.

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