Retirees are being offered a chance to buy inflation-proof, Government backed income as part of a pension top-ups scheme which launched this week.
Men aged 65 or older and women aged 63 or older are being offered a chance to increase their State Pension by up to £25 a week, giving them guaranteed extra income for life.
The scheme – which is open to anyone reaching State Pension age before 6 April 2016 – could be worth up to £1,300 a year in additional income.
In most cases, surviving spouses and civil partners will be able to inherit at least 50% of the extra pension.
“We often speak to clients who are looking to generate extra income from their pension pots and this scheme looks like it could appeal to many,” said Nexus Director Angus Henderson
“I’d always advise retirees to take independent advice first, of course, but with an attractive yield, this scheme looks like it could be an offer worth considering.”