Offering new forms of annuities

In a video interview with FTAdviser, Chris Knight, Managing Director of Legal & General Retail Retirement claims that annuity products are still an important product choice for people seeking income and security in retirement.

Since 2015 pension savings have been able to be passed on to any nominated individual to draw an income from, while remaining in a tax privileged pension wrapper.

Once a drawdown fund has been created for a nominated beneficiary, they can access the pot at any age, drawing as much or as little as they choose. They can even nominate their own beneficiaries to inherit the pension pot on their death meaning a pension can now truly be passed down the generations.

To watch the full interview, please visit the linkĀ at the bottom of the page.

It is an important issue for ourselves and society. It can be complicated and so it is forgivable that some people might see the headlines and think 'well pensions might not be for me'.

Chris Knight, Chief Executive of Legal & General's retail retirement

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