Prudential has launched an innovative pension annuity product which IFAs say substantially changes t...
Prudential has launched an innovative pension annuity product which IFAs say substantially changes the annuities market and the concept of what retirement income should be. Although quite complex in nature, the Flexible Lifetime Annuity (FLA) from Prudential Annuities - the Pru's retirement income arm - addresses the perceived weaknesses of traditional annuities by controlling the income and investments through a mixed strategy of equities, corporate bonds and with-profits funds, and includes a guaranteed annuity under the Flexible Retirement Income Account. This is the first time c...
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