Flexible Income Annuity
Please note that the Flexible Income Annuity is now closed to new business.
Retirement Advantage provides a range of retirement solutions, and similar benefits to those provided by the Flexible Income Annuity can now be obtained from other products that we have introduced in recent years.
The Flexible Income Annuity allows you to invest your pension in funds managed by leading investment groups. If your investments perform well your income could grow, but should your investments perform poorly there’s a special guarantee. Whatever happens in the stock markets, your income can never fall below a certain level and will be paid for the rest of your life.
Are existing policyholders affected by this?
Existing policyholders will not be affected or disadvantaged in any way. There are no changes to policy terms, income payments, annual statements or any other aspect of your pension. The funds your pension invests in will remain the same. We do not expect any negative consequences as a result of closure to new customers. Fund information will continue to be shown on the retirementadvantage.com website, and we will notify you of any future changes to funds.
Do you need to do anything?
We believe that your Flexible Income Annuity continues to provide excellent benefits, and therefore no action is needed. If you have any queries our customer service team will be happy to help, and can be contacted on 0800 032 7690 (weekdays 8am-6pm.).
Alternatively, your financial adviser will be able to answer any questions.