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When folks retire, they will typically select between a life annuity and a residing annuity to supply them with a daily earnings. In a residing annuity, the consumer enjoys the reward but in addition takes on the threat of low or adverse market returns, higher-than-expected inflation and residing longer than anticipated. On the opposite facet of the spectrum, in a life annuity, the consumer outsources all threat to the insurance coverage firm.
Pre-pandemic trade traits present that 90% of individuals selected a residing annuity, whereas post-pandemic traits present that this degree decreased to 70%. Subsequently, extra persons are selecting to share these dangers with the insurer to supply extra certainty in unstable markets. However purchasers’ wants are consistently altering, and this requires a change within the resolution set.
Shoppers and their monetary advisors can add the Assured Annuity Portfolio, Momentum’s life annuity, as an funding part to the Retirement Revenue Possibility which gives the flexibleness for the consumer and advisor to determine when and the way a lot threat to share. On the identical time, the consumer can retain some publicity to potential funding development. This resolution supplies the knowledge and suppleness in a single retirement earnings resolution.
Be part of this webinar with Moneyweb’s Ciaran Ryan as he chats with Fareeya Adam and Martin Riekert of Momentum Investments, the place they are going to focus on how Momentum Investments has reimagined retirement earnings planning and the way the most recent enhancements to its residing annuity can improve your worth proposition to your purchasers.
This webinar takes place on Tuesday, 28 June at 11h00. Register right here.
Extra concerning the friends:
Fareeya Adam
Head of retail product options at Momentum Investments.
Adam has been with Momentum for greater than 16 years. She began as a scholar straight after college and has spent most of her time in product growth roles, with a stint within the valuations group.
In her present function, her group is answerable for product growth and product administration for discretionary and retirement options, conventional life annuities, structured merchandise and the worldwide merchandise.
Adam has a BCom Honours in Actuarial Science (College of Pretoria) and is a certified actuary by the Institute of Actuaries (UK).
Martin Riekert
Government head of retail investments at Momentum Investments.
Riekert started in wealth product growth as an actuarial analyst and began the wealth actuarial group that supported the wealth enterprise from a technical and enterprise intelligence perspective. He later moved to product growth, specializing in the Momentum Retail financial savings merchandise.
Quickly after the MMI (Momentum and Metropolitan) merger, he was promoted to move of the retirement options group, the place he centered on retirement financial savings and preservation merchandise, together with the trustee governance perform. In 2016, Riekert was promoted to move of all product growth and product administration actions for Momentum Investments. He turned govt head of retail investments in 2020.
Riekert is a certified actuary (Fellow of the Actuarial Society of South Africa) and has a BSc Actuarial and Monetary Arithmetic (UP) in addition to a post-graduate diploma in Actuarial Science (UCT).
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