A longer version: how much annuity income might you be able to get by spending your pension fund via the open market option (OMO)? This is the option you have at retirement to move your pension fund from the company you have saved with to another annuity provider to get better annuity rates for your circumstances.

Let us assume there are six different sets of annuity rates out there; A, B, C, D, E, and F. Precise figures don’t really matter. The thing is, though, you could be entitled to any of them. A being the lowest, and F being the highest. Confused? Let me explain….

Firstly, we’ll assume you are using the OMO. ‘A’ could be the lowest rates available when shopping around.

‘B’ could be the annuity rates available from your current pension provider, possibly slightly higher.

‘C’ could be the annuity rates available if you are a regular smoker.

‘D’ could be the rates available if you have a mild medical condition which could shorten your life expectancy.

Then we have ‘E’, which represents enhanced annuity rates if you have a more serious medical condition that could shorten your life expectancy even more.

And then we have ‘F’. ‘F’ represents a very serious medical condition or conditions that could have a really damaging effect on how long you might live.

From an annuity providers point of view the less time you are expected to live in retirement the more they reckon they can pay you each year until you do die. Because they are paying out over a reduced period of time.

So, there is a range. ‘A’ could be the lowest annuity rate on offer to you, and ‘F’ could be the highest. It depends on your circumstances, and you could fit in anywhere between ‘A’ and ‘F’. The thing is, though, the gap between the lowest and highest could be substantial. The highest could be 80% more than the lowest for example. In figures, this could mean the difference between an annual annuity income of £3000 per year and £5400 per year. A huge figure.

You really do need to find out where you fit between ‘A’ and ‘F’. Take advice, find out. It could really boost your retirement income.

Sadly, there are many people feeling ill this Christmas time. The NHS is feeling the strain, as usual. Mind you, they do do a fine job generally.

But what if that illness is more severe? How does that effect your retirement plans? Well, if you have or have had an illness, which may or may not be serious, the chances are you might qualify for a higher retirement income.

How, you ask yourself. Well, because of the impact of enhanced annuity rates available via annuities known as enhanced annuities or impaired life annuities. Basically, the more serious the medical condition, the higher the annuity rate.

How come, you might wonder. The answer is that the annuity provider reckons on you not living so long because of your medical condition. They can therefore pay you more for the shorter time they calculate you will live in retirement. Simple!

If you think you might qualify for enhanced annuity rates, check it out. It could really be worth your while.

Okay, so it’s bad for you, but smoking can lead to better annuity rates for your retirement income. Indeed, some smoke cigars at this time of year. However, not everyone has a simple view on this.

Some people are wondering; they don’t like the idea of being penalised at retirement for being a non-smoker, and are thinking about how long before they take a pension annuity do they have to start smoking to get the enhanced annuity rates?

There are rules: you will need to have smoked an average of 10 cigarettes a day over the previous 10 years. Therefore, taking up smoking the day before you retire will neither benefit your annuity rate nor your state of health.

Enhanced annuities are available to those with a combination of health conditions such as being slightly overweight, having raised blood pressure along with raised cholesterol, so this approach may work to boost retirement income for many people wanting to purchase a fixed stream of income.

If you are fortunate enough to be in a really healthy condition then simply by using the open market option (OMO) - gaining the most best annuity rates through shopping around rather than accepting what your pension company has to offer - can often result in considerable gains being achieved.

Get the best deal you can, whether you smoke or not.

Now that we have expanded both the information and range of services available via this website we need to know if it is right for you.

Is it better that we offer you more than just the chance to buy a pension annuity? Do you want to receive full advice? Might you be of a mind that face to face advice is right for this important time in your life? Is the website easy to use, or too complicated?

Whatever your views, let us know. Send an e-mail to enquiries@rightannuity.co.uk . Maybe we are missing something. If so, what?

We want to ensure that you, the customer, has in front of them what they need, and what you see with this improved website is just the start.

Perhaps better put: do you, or have you in the past, suffered from ill health? If the answer is ‘yes’ there is every chance you will qualify for a higher annuity income. Increased annuity rates will apply and these could be anything from 10% to, well, who knows. If you are really ill the increase you receive could be very substantial.

The type of annuity you will be eligible for will be an enhanced annuity or an impaired life annuity, and you will need to put in a little more effort to get one. Be prepared to provide details of your condition, and any medication you are on, i.e. more paperwork. It is worth it, perhaps a few hundred pounds or a few thousand pounds more per year in your retirement ‘pay packet’.

Not enough people end up with these types of annuities, even though they are eligible. Make sure you don’t lose out.