Retirement Advantage has launched its response to the pension freedom reforms in the form of a packaged income account combining drawdown and annuities.
It said its Retirement Account gives income flexibility and better death benefits than currently available from traditional annuities. The option incorporates a drawdown pot, a cash account and a guaranteed annuity in one product, all within drawdown rules. Retirement Advantage product and marketing director Peter Carter said: "The new pension rules demanded fresh thinking, and the Retirement Account has been designed from the ground up following extensive consultation with advisers. "By combining the best features of annuities and income drawdown, advisers and their clients no lon...
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