Snoring can boost your pension by £570 a year
If you're fed up listening to your partner snore at night, we have good news! Snoring can boost your partner's pension by £570 a year through an enhanced annuity.
I’ve written before about how people with health problems and certain lifestyles can get a bigger pension.
So, for example, if you drink more than 50 units of alcohol a week, you can boost your annuity by 19% - as long as you disclose this condition when you buy the annuity.
Other factors that can enhance annuities include smoking, obesity, high blood pressure and diabetes.
But today I discovered that some heavy snorers can also get an enhanced annuity!
Heavy snoring is often a sign that someone suffers from Obstructive sleep apnea (OSA). An OSA sufferer doesn’t just snore a lot, he also stops breathing during sleep. These pauses are called apneas and typically last for around 30 seconds.
Sadly OSA can lead to serious health problems over time – such as diabetes, high blood pressure, weight gain and stroke.
So OSA increases the chance that you’ll die earlier than a completely healthy person of the same age. As a result, annuity providers are willing to pay a bigger annuity to someone who suffers from OSA.
Indeed MGM Advantage says that an average man can boost his annuity by £571.44 each year if he suffers from OSA.
So if you’re a snorer and you’re going to buy an annuity soon, make sure you disclose your condition to your provider. It could make a significant difference to your pension income. Once you’ve bought the annuity, it’ll be too late; you’re stuck with your annuity for life, so make sure you disclose all the relevant information when you buy.
More on annuities:
Smoking could boost your annuity by 37%
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You missed out a few more if you mention you support the England football team your annuity maybe enhanced as the amount of early exits from tournaments makes the poor fans have high and low blood pressure resulting in trauma! Same applies to supporters of Murray! I expected better standards of lovemoney, maybe that could enhance my annuity. Lol
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LOL @ Mouthy Rob - " I'm all for encouraging pension-savings, but this article misses the mark. Most people who snore do so because they're either overweight or they drink too much (or both), not because of OSA." Think you will prob find that people that are "either overweight or they drink too much" will qualify for Enhanced Annuities anyway as life expectancy will be lower!!!!! Think the article was half in jest and full in earnest however you are a party pooper whose party popper has pooped in their face! LOVL
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Ed, I appreciate that you're trying to shine a light on Enhanced Annuities (which is obviously a good thing), but to suggest (as your headline does) that 'snoring' in itself will provide an enhancement is clearly pants. If someone has been diagnosed with OSA then some providers may offer annuity-rate uplifts, but simply writing 'I snore' on top of the common questionnaire obviously isn't going to make any difference, and as such your article may as well say 'eating red meat can boost your pension' (because it could possibly lead to heart disease, but may not). I'm all for encouraging pension-savings, but this article misses the mark. Most people who snore do so because they're either overweight or they drink too much (or both), not because of OSA.
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06 October 2012