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Enhanced Annuities Pay Out 22% More
Enhanced annuities pay out an average 22% more than standard annuities in annual retirement income, research suggests.
According to life assurer MGM Advantage's Annuity Index, a man retiring at 65 with a pension pot of £50,000 would receive an estimated £3,575 extra for the first five years of retirement - £715 each year - if he qualified for an enhanced annuity.
A woman retiring at 65 would be £3,405 better off after the first five years, equivalent to £682 extra a year, it adds.
Enhanced annuities are available to people with certain medical conditions or those prone to ill health because of lifestyle choices, such as smoking.
