Prudential is to launch a single savings and income retirement account, allowing people to accumulate and withdraw money at the same time.
The account will allow people to save for and during their retirement and to access their cash at any point from the age of 55 without having to cash-in or cancel the entire account. It will also offer a set of optional guarantees, such as a ‘capital guarantee' for drawdown and a ‘minimum income guarantee', which acts similarly to an annuity product, guaranteeing an annual income throughout retirement even in the event the value of the fund plunges. Prudential will launch the advised-only account on 26 September, saying it wanted to give people the "flexibility and freedom" they nee...
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