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Lifetime income rates a drawcard
Friday 15th of January 2016
Lifetime was given a licence by the Reserve Bank last month to offer a variable annuity product in New Zealand.
It offers tax-paid lifetime income rates, fortnightly or monthly, of 5% for people aged between 65 and 69, 5.5% for people aged 70 to 74, 6% for those 75 to 79 and 6.5% for older investors.
If the income payments use up the money invested, the fund continues to pay out.<...
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