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IFAs predict growth in variable annuity market, says Metlife

Forty-nine per cent of IFAs expect the market for variable annuities or pension products with unit-linked guarantees to grow over the next year according to research by MetLife Europe.

Research of 163 SimplyBiz IFA clients in May also reveals 60 per cent of intermediaries expect an increased number of product launches and providers to boost confidence in the market.

Sixty three per cent of IFAs believe a lack of product knowledge will hamper the market’s growth.

In June MetLife launched a personal pension offering capital and income guarantees to protect clients against market falls.

MetLife Europe strategic development and marketing director Dominic Grinstead says: “MetLife is dedicated to spreading the word about the value of pensions with unit-linked guarantees, which still constitute a nascent market in the UK. They provide an excellent solution for advisers and their clients to the uncertainty posed by inflation and stock market volatility, which are both at the forefront of investors’ minds at present.”

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