Does he think there is an oversimplification of the divide among old style providers and new ones?
Smith-Hughes says: “I think a lot of advisers still think in terms of annuity or drawdown. We had a with-profits annuity in 1991. We think it was pretty much the first third way product. It sits between a conventional annuity and drawdown.” “Does Pru see advisers mixing and matching retirement products solely using Pru or Pru and those of others?” “You might see an adviser getting the best rate for a conventional annuity and then come to us for the income choice. It depends on the benefit. If it is negligible it may all come to us. If there is a substantial benefit, they may split it in two,” he says. Burrows asks his view of post-code annuities? “I think they will come in more and more. I think Solvency II also has some really significant challenges. Maybe alternative arrangements will look more attractive by comparison to conventional annuities. Investment linked annuities for example may see a seismic shift,” says Smith-Hughes. Burrows presses the point. “Do you think the middle Bri
