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CGU launches with proifts annuity

CGU is launching a with profit annuity aimed at pensioners looking to make the most of their pension funds.


The with-profits annuity will provide a viable alternative to traditional annuity schemes which have suffered from falling returns in recent years.


The new annuity is available to funds with a minimum of £15,000 and will allow clients to withdraw up to 5 per cent a year from their final pension pot. The remaining fund is left to grow through the addition of annual reversionary bonuses.


Initial commission is 1 per cent plus uplift.

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