Variable annuities have been a hot topic in the at-retirement space for the past few years and the debate surrounding them looks set to continue. The withdrawal of The Hartford and the replacement of Aegon's 5 for Life product has forced the industry to sit back and take stock of where these products are heading. For a long time the at-retirement market has been polarised. Retirees had the choice of annuitisation which offers a guaranteed income but little in the way of flexibility. At the other end of the scale, clients could choose to go into income drawdown which gives them the chance...
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