Property News > Half of retirees could be entitled to more money

Half of retirees could be entitled to more money

Retirement is a time when most people feel vulnerable about their financial situation. With no real means to bring in an additional income, and the cost of living rising all the time, many worry about how they will manage to make ends meet.If you are in a position like this, and it has left you thinking "I need to sell my home", one expert has advised that it is essential you look at everything you are entitled to, as you could find yourself with more money than you thought.Partnership, one of the UK's leading enhanced annuity providers, carried out research that discovered more than 50 per cent of all people aged 65 who retire have an underlying health condition or a way of life that would entitle them to additional benefits.Diabetes, cancers, strokes, high blood pressure and chronic obstructive pulmonary disease are just some of the reasons that the company found people could be entitled to more money, so anyone who suffers from such issues should make sure they visit their doctor to find out if they are likely to be able to claim.Along with these, those who are smokers can also get a greater level of income as well, and the extra financial help can amount to as much as 25 per cent.Andrew Megson, director of retirement at Partnership, said: "When a person is looking to convert their pension into an annuity, they should always declare all current and historic medical and lifestyle conditions as a 25 per cent increase on a standard annuity would be reasonably typical for one of our 65-year old customers and, for severe conditions, could be considerably more."For some though, the idea of offloading their house and moving to something smaller can be an attractive proposition, meaning that they might look to sell to Property Rescue, giving them a quick cash offer and allowing them to relocate to a smaller home.

Related Articles

Almost half of would be first time buyers in Scotland think they will not own a home

Around half of would-be first time buyers in Scotland believe that the ability to own their own home will be forever out of reach, new research has foundHowever, approximately a ...
View >>

Ten Items in your Home you Could Sell to Raise Cash

The chances are that there are plenty of items around your home that are rarely, if ever used. These could earn you some valuable income.Antiques and collectiblesThese are the ...
View >>

Five Ways to Improve your Credit Score

Your credit score will determine the rates of interest you will pay on loans and credit cards. It may even decide whether or not a mainstream lender will be willing ...
View >>

Need Help?

Thank you. We will give you a call back as soon as possible!
Name *
Email *
Phone *
When would you like a callback? *