Pension holders looking to supplement their basic state pension may be interested to hear about the launch of a host of new investments products by a financial services provider.
Available from Fidelity International, the new lifetime funds incorporate a diverse range of investments assets such as shares, savings bonds, commodities and cash.
Moreover, unlike traditional annuity-based pensions schemes, outstanding assets in these retirement funds can be passed on to family members, which may be of interest to customers looking to safeguard the future prospects of their loved ones.
Richard Wastcoat, UK managing director of the investments organisation, explained why the products may appeal to many people with state pensions.
"The needs of people planning for retirement are changing radically," he said.
"Improvements in life expectancy mean that people will need to manage their investments for the long run to draw down their savings at a sensible rate."
At present, the basic state pension age is 65 years old.
However, the pensionable age is expected to increase incrementally over the coming decades to reach 68 by 2046.
New retirement funds advertised to pension holders
Pensions Quote Line
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New retirement funds advertised to pension holders
Mon, 30 Apr 2007
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1998 - 2008 UK Pensions - Planning before, at the onset and during retirement.
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