Angus Peters

From the blog: Insurance giant Prudential is leaving the UK annuity market, but analysis of ‘at retirement’ product offerings show that guaranteed income still has a significant role in the post-freedom and choice savings world.

 

As the UK’s largest insurer by market capitalisation, it is tempting to read the company’s exit as a sign of the death of annuities, brought about by a trifecta of low interest rates, poor value for money and consumers flocking to take advantage of new freedoms.

 

Indeed investment consultants will often recommend retaining equity exposure in default funds for older savers, in recognition of the fact that many leave some money invested after first drawing a pension.

 

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