Enhanced Annuity

 

DAWN’S STORY – 66 YEARS OLD

Dawn has relatively poor health which she knows may shorten her life expectancy. After researching her choices she feels an enhanced annuity may provide her with a higher income than a standard annuity.

DAWN'S PENSION POT

DAWN'S FULL STORY

Dawn already has ##pension_pot## in her pension pot and is planning to retire now.

She has smoked for the last 10 years, is overweight and has diabetes, some of the many conditions that could make someone eligible for an enhanced annuity.

Due to the state of her health Dawn is aware she may die before the average person her age. Dawn considered leaving her pension pot invested since if she passes away earlier than expected there would be a lump sum to leave to her beneficiaries. However, Dawn decided not to do this as she wanted to have a guaranteed income.

After taking her 25% tax-free lump sum of ##tfls## an enhanced annuity will then give her around ##enhanced_annuity## per month, which is ##diff## more per month than a standard annuity at ##standard_annuity##.

Dawn will be entitled to the new State Pension which is currently £203.85 per week at her State Pension age.

More on the State Pension


The level of income from an enhanced annuity will vary depending on your health and lifestyle.

Read more about enhanced annuities

MONEY ADVICE SERVICE PENSION CALCULATOR

MONEY ADVICE SERVICE PENSION CALCULATOR

Use the pension calculator to get a more detailed estimate of your monthly retirement income based on your circumstances.

Get your estimate

EXPLORE MORE STORIES

STORIES ABOUT ANNUITIES

George wants a guaranteed monthly income

Read George’s story now

Helen wants her annuity to increase with inflation.

Read Helen's story now

Dawn can get an enhanced annuity because of poor health

Read Dawn’s story now

Jim wants to provide for his wife should he die first

Read Jim’s story now

STORIES ABOUT FLEXIBLE ACCESS

Ted wants to take his 25% tax-free lump sum and then invest the rest.

Read Ted’s story now

June wants flexibility in how and when she accesses her money.

Read June's story now

STORIES ABOUT OTHER OPTIONS

Jill wants to take all of her pension in cash, now.

Read Jill’s story now

Nigel wants to continue working and leave his pension to grow.

Read Nigel's story now

RETURN TO: TAKING YOUR MONEY

RETURN TO: TAKING YOUR MONEY

Go back to the taking your money home page to look at a different stage.

Taking your money

TAKING YOUR MONEY

TAKING YOUR MONEY

Have you thought about what your plans mean for your retirement income? Our calculators can help you work it out.

Retirement calculators

COMBINE YOUR PENSIONS

COMBINE YOUR PENSIONS

Got more than one pension? Then you could think about putting them all in one place. Combining your pensions with Scottish Widows is simple and we won’t charge you for this service.

Pension transfers