Our Retirement Nation is a specially commissioned report by MGM Advantage to examine the financial and emotional well-being of those approaching retirement and those already retired. To create this three-dimensional picture we worked with psychologist Donna Dawson and industry expert Rachel Vahey.

When it comes to buying your annuity, what your pension company is unlikely to tell you is that being a smoker or having a health condition (even a really minor one) will secure you more money for your retirement. Your pension company will not automatically offer you an enhanced rate so it's always worth checking.