Pru launches flexible income annuity

The Income Choice Annuity aims to provide a flexible and invested retirement option, which is also available to those with smaller pension pots. For a minimum purchase of £10,000, pensioners can select a starting level of income with a minimum income level to provide reassurance. The income retails the potential for growth, and is reviewed annually, with the option to make changes every two years. Karin Brown, annuities business director at Prudential, says: "People in retirement should be able to choose an income level which suits their changing needs and has the potential to grow th...