He has heart disease and a lower life expectancy, which means he qualified for a higher annuity payout on one of his smaller pension pots.

I doubt that the freedoms would even have happened if low rates had not made annuity payouts seem so poor.

But make sure you get the best rate, as annuity payouts have plunged to a record low.

Annuity payouts can rise by 40% or more for those with health conditions that shorten life expectancy.