New retirement pension solution launched by Aegon
Retirement pensions provider Aegon has announced a new product for over-65s which guarantees their capital.
Financial advice and asset management firm Aegon has unveiled a new "third-way" retirement pension for over-65s requiring an income.The variable annuity investment is aimed at retirement pension receivers or those approaching the age for giving up work and will offer guaranteed capital which can rise over time.
According to the firm, the retirement pension is perfect for those who do not want to fully commit to the volatility of the stock market and are concerned about savings account interest rates.
Gordon Greig, head of individual marketing at Aegon, said: "A guaranteed income is more important than ever for people as they approach retirement. Aegon Secure Lifetime Income also offers control over where money is invested, the potential to benefit from stock market growth, and access to capital."
Unbiased.co.uk recently said that Brits saving for their retirement are losing out on an extra £720 million in tax relief by not making additional pension contributions.
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