Prudential targets A-Day changes

The life company has unveiled a with-profits annuity similar to its existing product but with access to protected rights money, which it believes will offer an alternative to a conventional product. Protected rights money is a sum payable at retirement age which is derived from funds built from main contributions paid into an appropriate personal pension plan by the Government. Prior to A-Day there were certain criteria which applied to annuities and limited products clients could buy. However, following changes in legislation, issues such as escalation requirements have been disp...