Has anyone received a better pension annuity rate due to having blood cancer?
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Hi @purdy1966 no, I certainly haven’t received a better pension annuity.
I await others.
Good luck and take care
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I have a SIP. a self invested pension. From time to time I look at options which include using some or all of my pension ‘pot’ to purchase an annuity. Because annuity rates are so low I am not doing so at the moment. However when I obtained quotes a year or so ago the rates, given that I have multiple myeloma, were significantly better. Your age and detailed diagnosis will be taken into account of course.
It’s worth bearing in mind that the interest rise now and in the future may change the attractiveness or otherwise of annuities. You will know that you are not necessarily obliged to purchase your annuity from your pension provider.
Peoples circumstances vary widely - take advice if you are in any doubt.
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Hi Simon, thanks for your answer and welcome to the forum.
I have Non-Hodgkins and a SIPP too.
I have read that it may be best to wait next year to get annuity quotes as the Gilt Yields - interest rate on loans to UK Gov- are likely to continue rising. Higher Gilt Yields push up annuity rates, I’ve been told.
Coupled with my diagnosis, I’m hoping for a good rate then, as it’s nice to have some certainty. It’d also be nice to have some benefit from having cancer! 
I hope you are doing well (despite your diagnosis) and can reap the rewards of the SIPP soon (especially if the markets will start to creep back up).
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Hi @simon.baker a great big welcome and you have really shown the value of our forum by sharing your experiences.
I look forward to hearing more about you.
Look after yourself
Hi folks - silly qt alert here! Could someone explain to me why having cancer can result in a higher/better annuity (not that i really know what is either truth be told)? Hubby and i chatting about our pensions (mine Nhs and his private) and i dont get where and how cancer is linked to any aspect of pensions. Thanks in advance
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Hi @judesadventures,
Lovely to get your contribution. That’s not a silly question at all. 
Here is some information from Cancer Research which I hope answers your question. Annuities and cancer are covered at the end of the article. They are called enhanced annuities.
I hope that helps.
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I just got the rate I would have gotten had I reached full retirement age.I have 2 pensions with the same company as I left and rejoined but I could only access the current pension due to ill health retirement but that was for a long period of I think 24 years and the one I can’t get at is only about 5 years worth.If I wanted the first pension I’d have to do it via the normal early retirement rules which means you lose about 10 percent for every early year but I think that it matures in 2024 so I’ll just leave it to then.But as far as I’m aware you don’t get anymore because of ill health just what someone retiring would get.If you retire yourself without going through the employers medical retirement process you’ll get less as it’d just be treated like normal early retirement and you’d suffer the penalties I mentioned in the small pension.
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Hi @Kevan7,
Thanks for your answer. That’s very useful and interesting.
I am also looking into taking my small defined benefit pensions before their Normal Retirement Age, so it’ll be interesting to see what options I get and if cancer is a consideration in their calculations.
It seems that it is a consideration when buying an annuity with self-invested personal pensions.
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