L&G with-profits option

Legal & General has added a with-profits annuity option to its conventional annuity product aimed at giving customers more flexibility and allowing them to mix and match the components. Under the with-profits option, customers choose an anticipated bonus rate. The level of income will fluctuate each year depending on the rate of bonus anticipated and the actual bonuses subsequently declared. Andy Agar, pensions marketing director at Legal & General, said: "The rate of bonus is important as once it has been chosen it is set as long as the annuity payments continue - regardless of what hap...