Retirement Advantage withdraws standalone annuity

Bought by rival firm

clock • 2 min read

Retirement Advantage has withdrawn its standalone annuity from the market following its takeover by Canada Life.  

It said it would continue to offer an annuity within its drawdown product, the Retirement Account. A Retirement Advantage spokesman said: "Following the completion of the acquisition of Retirement Advantage by Canada Life, we have reviewed the product set and given Canada Life has a direct equivalent to our standalone annuity, have decided to withdraw our product from the market. "We will continue to offer an annuity within our drawdown product as there are significant differences between an annuity held within a drawdown wrapper and a traditional standalone annuity." The firm said...

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