MONEY
HYBRID PENSIONS
END
PRODUCT
Pensioners can now get the safety of
an annuity with the flexibility of income
drawdown in a single product, writes
Pádraig Floyd
T
he promise of unprecedented
pension flexibility last year
got a lot of people very excited,
until they realised there were no
new products available to let them
take advantage of these rules.
Now, 18 months since the
announcement, providers are
launching new products to allow
investors to do just this.
Just Retirement, Partnership
and Retirement Advantage have
combined the income guarantee
of an annuity with the flexibility
of income drawdown into a single
product.
There are differences, but they
operate in a similar fashion,
split between an annuity and
draw