If you need to convert your pension into an income (through an annuity) find out if you can increase the amount you get.

There are many types of insurance (such as life insurance, travel insurance or income protection policies) where you’ll get a better deal the healthier you are. But there’s one type of financial product, an annuity (which generates an income from a pension fund) where you’ll get more if you have a health problem or illness. It’s not very cheery to think about, but the worse your health problem the more money a pension company will pay you each year.

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Millions of letters are being sent out to pensioners this week telling them they’ll be getting the winter fuel payment

Over the next few weeks millions of pensioners will receive a letter telling them they’re entitled to get either £200 or £300 towards their winter fuel bills. The amount you receive depends on your age and is worked out on a ‘per household’ basis. The payment is meant to help with fuel costs (although you can spend it on whatever you want). How can you claim it?

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Some pensioners will automatically qualify for the warm homes discount, but many others could lose out.

If you’re a pensioner on a low income (£103 a week for an individual and £164 a week for a couple), you’ll get a discount off your electricity bill if you’ve signed up with one of the major energy providers. The so-called warm home discount is worth £120 off your bill, but – as Radio 4’s Moneybox reported at the weekend – other groups – such as people on a lower income, may not be able to claim the £120 discount.

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