If you are a smoker, you are probably fed up of hearing how it is bad for your health. Well if you are approaching retirement and want to purchase an annuity, the good news is that smoking is actually good for your financial health.

An annuity is a way to convert your pension fund into an income for life, and the level of annuity that you receive will be affected by your health and lifestyle. If you have smoked continuously for the last 10 years, then this will have an impact on your life expectancy – that’s the bad news! That means that the enhanced annuity provider will give you a higher smoker’s annuity rate, compared to someone who doesn’t smoke – the good news, we hope ! If you have other health issues too, then this may mean that you qualify for an even greater enhancement on your annuity.

Smoker’s annuities usually require you to smoke at least 10 cigarettes a day, or 85 grams of rolling tobacco, and to have smoked for the last 10 years or more. If this is you, you could qualify for an enhanced smoker’s annuity rate.

To give an example, a 65 year old smoker with £50,000 to purchase an annuity would get £3,511 per annum at current smoker enhanced annuity rates, compared with a non smoker who would get only £2,944 per annum. This represents over a 19% enhancement, just because the client smokes!

It is easy to get a quote for a smoker’s enhanced annuity. Just give Best Pension Annuity a call on 020 33 55 4827, and we will use the information about you, your pension fund and your smoking and health, to obtain competitive smoker’s annuity quotes.