Living in an affluent area could cut your retirement income by 20%

This article first appeared on Your Money. Standard or conventional annuities which determine retirement income are often priced by postcode - so people living in more affluent areas are expected to be healthier and live longer and therefore get lower annuity rates. However, this does not take into account the fact that people in poor health are often entitled to a higher income when they retire. Providers say they can pay more as people with medical conditions are less likely to live for longer. According to Partnership, some of the UK's estimated 3.7 million diabetics living in m...