The UK has the opportunity to create a world-leading pensions system with the launch of pensions flexibility from April 2015.
Impartial financial advice and a focus on product innovation will play a crucial role in ensuring the retirement revolution becomes a reality and delivers improved standards of living in retirement for everyone.
Since launch in the UK in 2007 MetLife has focused on growing our network of adviser partners and is committed to helping them expand and build their businesses. Our innovative range of income and capital guaranteed retirement and investment solutions are now firmly established in the market.
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As the market leader in guaranteed drawdown we believe our retirement income solutions are ideally suited to the new era of pension flexibility but that more innovation will be needed. We are fully committed to playing our part.
Some things will not change - the need for certainty is even more important in the new world. Guaranteed drawdown can help as it delivers an income for life no matter what happens to markets and no matter how long customers live.
Advisers will be more important in the new world which is why MetLife is committed to supporting them and helping provide insights on the new retirement reality through our partnership with leading pensions campaigner Dr Ros Altmann.
We conduct regular research with advisers to hear their views on how they believe the market will change from April 2015 onwards. Insights from the research with NMG among 284 advisers shows 69% believe guaranteed drawdown will see an increase in sales in the new pensions regime with 23% forecasting sales will increase significantly.
The next most popular will be conventional drawdown which 65% of advisers believe will see a rise in sales with 23% expecting significant increases. Fixed-term annuities were the next most popular with 41% expecting a rise in sales and 6% expecting a significant rise.
We are entering a period of massive change and an uncertain world where certainty is going to be even more important.
To find out more about how MetLife can help provide certainty for your clients please visit www.metlife.co.uk or call 0845 370 6040 to speak to our team.