Products for smokers
Our annuity rates for smokers are always very competitive and normally one of the best in the market.
Smoker Annuity Enhanced Pension For Smokers
We believe in giving people the full benefit of their pension fund, taking account of their personal circumstances. For those who smoke at least ten cigarettes a day (or 85 grams of rolling tobacco per week) and have done so for at least the last ten years this has an effect on their life expectancy. We take this into account to give them a bigger annuity.
We carry out spot checks and in some cases obtain doctors' reports to verify the smoking information provided in the application. If we find evidence that does not support the information the client has supplied and they are not eligible for smoker annuity rates their pension will be reduced. The reduction will be significant and the pension will be less than could have been received from another company. We will also recover any overpayments.
Financial Services Compensation Scheme
Reliance Mutual has always met its annuity commitments. In the unlikely event of us not being able to do so in the future, your interests will be protected by the Financial Services Compensation Scheme (FSCS). There are maximum levels of compensation you can receive under the Scheme. You will normally be covered for at least 90% of payments due under your annuity. For further information you can contact the FSCS helpline on 020 7892 7300 or visit their website at www.fscs.org.uk.