Adopting a tailor-made approach to pensions

There has been much innovation in the annuity market lately with a rash of annuity products developed in the past few years. According to research conducted by the ABI, more annuity products have been launched onto the market in the past three years than in the previous 10. For Trevor Mitchell, head of retirement income at Prudential, the engine that has driven the changes in the annuity market has been demographics. 'People are living longer,' he says. 'We have statistics showing that four out of five men who are aged 60 now are going to live beyond age 75. More people are re...