Aviva unveils fixed term annuities

The fixed term retirement plans provides two investment options. The low-risk option provides a guaranteed maturity value while the second option provides a money-back guarantee, but has the potential for greater investment growth and with it more risk. At the end of the fixed term, investors can use the remaining pot to buy a new annuity or go into drawdown. The insurer said the new product is a useful tool as investors increasingly phase out work rather than retiring completely. "We know through our customer research and regular Real Retirement Reports that the retirement market ...