MetLife UK has confirmed the charging details for its latest range of guaranteed retirement products.
Last month, Money Marketing revealed MetLife plans to link with BlackRock to launch unit linked guarantee pension products which allow customers to manage investments according to their market volatility preferences.
The three new managed wealth portfolios offer maximum equity exposure of 50 per cent, 60 per cent or 70 per cent. BlackRock will vary the funds’ exposure depending on market conditions.
The minimum guarantee terms on the new funds start from 10 years. Guarantee charges start from 0.4 per cent, with product charges from 0.35 per cent.
MetLife UK managing director Dominic Grinstead says: “Advisers and clients have told us they need more reassurance on financial planning in an uncertain world and we needed to respond.
“We identified a clear demand for innovation in response to current investment conditions as clients need stable and more consistent returns with less risk. Guarantees and the enhanced funds proposition are designed to achieve that.”