It鈥檚 a sad fact that the likelihood of suffering a work-related injury or illness is higher in construction than across all industries which means that many workers enter retirement with a condition which can limit their life span.聽 Enhanced annuities provide increased retirement income rates to people with health or lifestyle conditions.
As Andrew Megson, Managing Director of Retirement at Partnership explains, 鈥淢any people are unaware that increased retirement income rates are available for those with health or lifestyle conditions, yet 40% of people at retirement are eligible for them.聽 The difference between the best and worst retirement income rates for people benefiting from an enhancement can be 30% or more. B&CE鈥檚 customers will benefit from Partnership鈥檚 simplified enhanced annuity approach ensuring as many people as possible qualify for an improved retirement income, for life.鈥�
The collaboration represents excellent news for the construction industry as B&CE customers will benefit from a more complete annuity offering. They鈥檒l have direct access to enhanced rates through a simple one page 鈥榶es or no鈥� medical questionnaire, which will enable them to receive an improved retirement income regardless of their fund size.
Patrick Heath-Lay, Director of Finance and Customer Development at B&CE, comments 鈥淎t B&CE we understand the concerns of the construction industry in addressing the retirement needs of its workers. We鈥檙e continually looking for ways to provide a better service for our customers and offering enhanced annuities for construction workers in poor health helps provide more income for those with specific health needs. We鈥檙e delighted to be working with Partnership. As a specialist provider to those with health and lifestyle conditions, they are best placed to provide a tailored customer solution designed for those working in construction.鈥�
As a not for profit organisation, B&CE always has the interests of its customers at the forefront of its activities.聽 This collaboration further demonstrates B&CE鈥檚 commitment to actively source best of breed providers in its core market within the construction industry.
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