Provider claims advisers need to consider fixed term annuities

Provider claims advisers need to consider fixed term annuities

By Carmen Reichman The industry should rethink the way it integrates risk in retirement planning and innovate around the mid-range of the spectrum, a provider has said.

Russell Warwick and Kim Lerche-Thomsen, managing director and chairman of retirement provider Primetime Retirement, said the market was too focused on matching risk-rated consumers with products at either end of the risk spectrum: lifetime annuities and drawdown.

It would help the retirement income market if more attention was given to solutions that sit in between, such as fixed term annuities, they said.The Financial Conduct Authority (FCA) and government have called for more product innovation […]

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