M&G has launched a fixed term annuity product lasting between five and 15 years for advised clients with a minimum lump sum of £10,000.
Retirees who take out the product, which will be invested in M&G's £129bn With-Profits fund, get a guaranteed income for the term with potential modest bonus if investment conditions are better than expected, the provider explained. M&G said it was expanding adviser choice by giving them "greater access to a blended product suite to create tailored retirement income solutions for clients". It explained the Prudential Guaranteed Income Plan would be available as a trustee investment within self-invested personal pension schemes and "enables advisers to blend a guaranteed income solutio...
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