One third of IFAs surveyed say their clients are relying on cash, 21 per cent say they are looking to guaranteed pension products and 13 per cent say clients are turning to properties and other assets.
Forty-five per cent of IFAs report clients are asking more frequently for advice on alternatives to traditional and drawdown annuities.
MetLife is now using the term “unit-linked guarantees” to describe the features of its products, which allow clients to choose a variety of solutions to help plan for retirement.
The New Retirement Portfolio offered by MetLife provides protection against falling markets and 100 per cent performance lock-ins every three years.
Strategic development and marketing director Dominic Grinstead says: “Stockmarket volatility and growing worries about inflation are raising the uncertainty that clients and adv- isers face, so it is no surprise that pensions with unit-linked guarantees are becoming more attractive as an alternative to traditional pension products.
“They address inflation by helping with exposure to equities, which have an in-built defence against price rises in the long run, and protect pension pots against stockmarket falls.”