Investec Structured Products has launched a deposit plan for retirees it says offers an alternative to traditional annuities.
The FTSE100 Retirement Deposit Plan 1 offers guaranteed income payments plus a bonus payment at maturity which is dependant on the position of the index at that time. Investec Structured Products hopes the plan - available via SIPPs only - will prove popular in what it described as a "radically different world" since the pension freedoms were unveiled on 6 April. Those reforms, which permit savers aged 55 and over with defined contribution pensions unprecedented access to their pots, were first announced by Chancellor George Osborne at Budget 2014. The FTSE100 Retirement Deposit Pl...
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