Fixed-term retirement plan launched by Aviva

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Fixed-term retirement plan launched by Aviva

Workers worried about further cuts to public sector pension funds could benefit from a new product launched by Aviva.

The insurance group has today (July 1st) announced intentions to launch a fixed-term retirement plan providing a host of options for customers.

As part of the new deal, individuals will be given the option to take tax-free savings or an income for a period of five to ten years.

Designed to cater to the changing needs of the nation's workforce, the plan aims to help individuals choosing to remain in employment beyond retirement age.

Clive Bolton, the company's retirement director, said: "No two people are alike and individuals are approaching retirement with very different ideas about how they'd like to spend their life after work."

Earlier this week Aviva's Real Retirement Report uncovered statistics revealing that 73 per cent of over-55s are worried about the impact of rising living costs in the next six months.

Click here for pensions calculator ADNFCR-323-ID-800608474-ADNFCR

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