Smoker Annuity Rates
If you’ve smoked for the last ten years, you could be eligible for a significantly higher retirement income.
Annuity rates
We can get you the highest annuity rates available, as illustrated in the tables below.
| Male – £50,000 fund, after tax-free cash has been taken | Level income | 3% pa increasing |
| Age 55 | £3036 per annum | £2088 first years income |
| Age 60 | £3372 per annum | £2436 first years income |
| Age 65 | £3792 per annum | £2868 first years income |
| Age 70 | £4368 per annum | £3492 first years income |
| Female – £50,000 fund, after tax-free cash has been taken | Level income | 3% pa increasing |
| Age 55 | £2916 per annum | £1968 first years income |
| Age 60 | £3204 per annum | £2280 first years income |
| Age 65 | £3612 per annum | £2700 first years income |
| Age 70 | £4200 per annum | £3336 first years income |
| Joint – £50,000 fund, after tax-free cash has been taken | Level income | 3% pa increasing |
| Male 55, Female 53 | £2760 per annum | £1812 first years income |
| Male 60, Female 58 | £2988 per annum | £2052 first years income |
| Male 65, Female 63 | £3300 per annum | £2364 first years income |
| Male 70, Female 68 | £3732 per annum | £2808 first years income |
In these examples the size of pension fund is £66,670. 25% of this, £16,670, can be taken as tax-free cash.
The balance, £50,000, is used to buy an annuity.
The incomes shown are yearly, with no guarantee period. Annuity rates are taken from the FSA’s comparative annuity tables, November, 2011. For the joint life examples a 50% spouse’s pension benefit has been used, and it is assumed both lives are smokers.
If you also have a medical condition(s) you could get even more income.
You can tailor your annuity to suit your requirements with various annuity options.
