Partnership is to launch a self-invested personal pension (SIPP) account which houses both annuity and drawdown options.
The provider's new product contains a flexi-access drawdown account, interest-paying cash account and an annuity and is aimed at those who would otherwise qualify for an enhanced annuity. It will let customers receive a guaranteed income while allowing them to make ad-hoc withdrawals. Unused income can be rolled up into the product and withdrawn as part of the regular payment. The account will also offer eight Vanguard LifeStrategy Funds, a cash account and an ISA in which clients can invest. The product will be available to new customers between the ages of 55 and 85 with uncry...
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