Protected Retirement Plan:
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The comparison table shows how our Fixed Term Annuities compares against a lifetime annuity and drawdown pension. This helps you compare the products that you can blend to offer the best solution for your client.
| Annuity Features | Fixed Term Annuity | Lifetime Annuity | Drawdown Pension |
|---|---|---|---|
| Benefits known in advance |  | | |
| Benefits guaranteed | | | |
| No investment risk | if kept for the whole term | | |
| No ongoing fund management charges | | |
Drawdown Pension features
Key to retirement income planning, our Drawdown Pension gives your client flexibility if they’re approaching, or are in, retirement. The comparison table shows the features available, compared to our Fixed Term option and Lifetime Annuities.
| Drawdown Pension Features | Fixed Term Annuity | Lifetime Annuity | Drawdown Pension |
|---|---|---|---|
| Keeps future options open | | | |
| Retains control of funds | | | |
| Future income risk | | |
Key features guide
Find further details on options, guarantees and charges, in our downloadable guide.
Anytime conversion feature
Our Fixed Term Annuity keeps your client’s retirement options open. They can convert to another retirement product at any time or encash the plan as a lump sum payment.
- All clients qualify to the anytime conversion feature, when they take out our Fixed Term Annuity.
- We pay the current value of your client’s Guaranteed Maturity Value (GMV) plus their unpaid income payments.
- To calculate the current value we look at the value of the underlying investments at the date they convert the plan. There are no penalties for using the conversion feature.
- Values could be significantly lower than GMV in the early years or if investment conditions have worsened.
Flexible product design
Tailor the plan to best suit your client’s circumstances with a range of options:
- Choice of income level, including escalating income.
- Guaranteed income over a fixed term, up to 25 years.
- Choose from a variety of death benefits, including beneficiary's income.
- Flexible remuneration options.
Benefits, exclusively for members
When your client takes out our Protected Retirement Plan, they become a member. That means they get access to exclusive member benefits and additional support services.
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