Rock­ing­ham bonds with MetLife Europe

The Peterborough Evening Telegraph - - Etbusiness Daily - By JOHN KRALEVICH

METLIFE Europe is to of­fer its off­shore guar­an­teed in­vest­ment bond (GIB) to in­vestors in Peter­bor­ough-based Rock­ing­ham Re­tire­ment’s Re­tire­ment In­come Triple In­vest­ment Ac­count (RITA).

RITA, which was launched ear­lier this year and, ac­cord­ing to Rock­ing­ham, has al­ready proved pop­u­lar with clients, is a 10-year tem­po­rary an­nu­ity wrapped in a Self In­vested Per­sonal Pen­sion (SIPP)

The GIB of­fers guar­an­teed with­drawals of five per cent of the se­cured in­vest­ment ev­ery year for the 10-year term of the bond. The min­i­mum in­vest­ment is £10,000 and it has a max­i­mum pre­mium of £1.5 mil­lion.

Rock­ing­ham’s RITA of­fer­ing was cre­ated as an al­ter­na­tive to con­ven­tional an­nu­ities. The plan of­fers a choice of three in­vest­ment op­tions that pro­vide a range of fixed in­come lev­els and growth po­ten­tial. The prod­uct is of­fered through Rock­ing­ham’s SIPP wrap­per, for which there is no ad­di­tional charge.

Laura Good­man, di­rec­tor of cor­po­rate com­mu­ni­ca­tions for Rock­ing­ham Re­tire­ment, said: “The MetLife bond of­fers the valu­able ben­e­fits of 100 per cent cap­i­tal guar­an­tee, guar­an­teed with­drawals for the term of the bond and guar­an­teed death ben­e­fit – it does pre­cisely what it says on the tin.

“Be­cause we pro­vide a free SIPP to all our RITA cus­tomers, this makes it an ideal wrap­per for the bond that will ful­fil many of our clients’ wishes for an af­ford­able and trans­par­ent prod­uct.”

While the RITA plat­form has been suc­cess­ful for Rock­ing­ham, there will be un­ease from some quar­ters re­gard­ing the prod­ucts on of­fer. Com­pris­ing a with profit fund, a life set­tle­ment-backed fund and a struc­tured prod­uct, the RITA plat­form is likely to be tar­nished by the bad press all of these prod­uct types have re­ceived.

Rock­ing­ham man­ag­ing di­rec­tor Steve Hunt as­serted that all the prod­ucts avail­able through the RITA pro­vide strong op­tions for in­vestors that com­pare favourably with di­rect eq­ui­ties or an­nu­ities in­vest­ments.

“I be­lieve RITA is the per­fect at re­tire­ment prod­uct for ev­ery­one whether their fund is £30,000 or £3 mil­lion. The same prin­ci­pals of not tak­ing risk in re­tire­ment ap­ply equally to the wealthy as they do to the poor, pos­si­bly more so,” said Mr Hunt.

Do­minic Grin­stead, man­ag­ing di­rec­tor, MetLife UK branch, said: “We are com­mit­ted to sup­port­ing in­no­va­tion in the re­tire­ment in­come mar­ket and Rock­ing­ham Re­tire­ment’s RITA prod­uct is a per­fect fit for our prod­uct range. “The de­ci­sion by one of the UK’s largest in­de­pen­dent re­tire­ment in­come spe­cial­ists to put our prod­uct range on their panel and to of­fer our GIB to their clients is tes­ta­ment to the suc­cess of our en­hanced prod­uct range and demon­strates our on­go­ing com­mit­ment to ex­pan­sion in the IFA mar­ket.”


Laura Good­man says ‘it does pre­cisely what it says on the tin’ when re­fer­ring to the MetLife Guar­an­teed In­vest­ment


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