Might you prefer a retirement contract with flexibility? Flexibility as to the level of annuity income you might take over time, and with the opportunity of growth in your pension fund?
If the answers are ‘yes’ then you might wish to consider Prudential’s new Income Choice Annuity. It is a newly fashioned annuity contract with a truly flexible income annuity option which allows you to review the income you require every two years as your personal circumstances change. A very sensible retirement option.
This Income Choice Annuity contract is designed as a flexible, invested retirement choice, one of a new breed of annuities, and it is even available to those retirees with smaller pension pots. You can select the starting level of annuity income you require, though there is a minimum income level built in to provide you with some reassurance. Naturally the income you decide to take from this contract can effect the potential for growth for the remaining pension pot, and this is reviewed on an annual basis, with the ongoing option to make changes to the income taken every two years of the contract.
This contract has been launched to allow retirees the opportunity to choose a certain income level which suits their ongoing changing needs and it has the potential for growth throughout their retirement as well, which could be for 20-30 years, and it has competitive annuity rates from the outset.
It is backed by the weight of Prudential’s massive and successful with-profits fund, giving it good potential for growth, and it comes at a time when buying a conventional annuity providing only a fixed income from the outset might not be such a good decision, especially allowing for the ongoing effects of inflation.
So, if you are checking out annuity quotes, it might be prudent to consider this annuity contract as an option. It might just provide you with that bit more flexibility.
