M&G's opens fixed term annuity to UK retail market after soft launch

The Prudential Guaranteed Income Plan, backed by the £128bn Prudential With-Profits fund, is now available to all UK advisers. The provider said the product offered a "flexible retirement income solution for clients seeking certainty without a lifelong annuity commitment". The plan provides guaranteed income for a fixed term of five to 15 years, with a minimum £10,000 investment. M&G explained customers get the security of a guaranteed income, a guaranteed lump sum or a combination of both. M&G managing director, individual life and pensions Anusha Mittal said: "Retirement isn't one s...