Think about this for a second, because it will help explain what I am on about.

You know with life insurance, if you smoke, or you suffer ill health, or like me you have eaten too many cakes and people say ‘You’re looking well’, the insurance companies make your insurance more expensive – well that’s because they reckon you will die earlier than the health freaks (ie, you may be “looking well”, but you may not last long), and so they stand a greater risk of paying out a claim.

Pensions are the opposite of Life Insurance. With Life Insurance they collect money while you are alive and pay out when you die.

With pensions they are paying out cash while you are alive, so will reward you if you are likely to die early.

So, if you smoke, or you are a bit portly, or you have health issues – any health issue, there is a decent that an “Enhanced Pension” may be available to you.

Now most people, when they get to retirement take the 1st pension they are offered, thinking they have no choice. The  pensions companies know this, so rarely offer a good pension, let alone an enhanced pension. Why should they?

Now, bearing in mind, the pension decision is your last ever pay negotiation, you can see how important it is to get it right – especially if you can qualify for an enhanced pension.

Most people could do better by shopping around anyway.

40% of people could qualify for an enhanced pension.

An enhanced pension could produce a pension income a third higher for the rest of your life. That’s a 33% payrise.

So please, when the time comes to take your pension, see an IFA. Preferably me, but if not me, any IFA will do.