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Axa Sun Life launches simplified with-profits annuity

Axa Sun Life is launching a simplified with-profits annuity with a bias towards equity investment.


Retirement specialist The Annuity Bureau has welcomed the launch saying it is likely to prove popular with people willing to take a small amount of risk with their pension fund in the hope of future returns.


The bureau&#39s managing director Peter Quinton says: &#34Although the new product is called a with-profit annuity, it is quite different from the standard with-profit annuities currently available.


&#34This is primarily because it offers an underlying guarantee preventing income from falling to less than the original amount of the annuity.&#34

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