If you’re about to turn your pension fund into an annuity but don’t declare any health problems, you could be leaving yourself short of cash. We explain why.
Thousands of people every year leave themselves short of cash in their old age by failing to disclose their full medical history when they turn their pension savings into retirement income.
Unlike life insurance, where disclosing medical illness will see your premium bumped up, when it comes to pensions, declaring health problems, no matter how big or small, is likely to result in a higher retirement income.
This is because you are likely to be entitled to an enhanced annuity. Thi
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