The new product – AEGON Secure Income Option – will provide people entering retirement with the guarantee of a steady income. It provides customers with the security of a guaranteed income of 5% of their original investment over 20 years, no matter what happens to investment performance. It also provides the potential for capital growth.

The product is, in effect, a kind of variable annuity – and will boost efforts to extend our variable annuities business in Europe. Over the past few months, AEGON has launched new variable annuity products in both the United Kingdom and France and is broadening distribution of variable annuity product in the Netherlands.

In recent times, sharp swings in financial markets have made investors more cautious – and increased demand for products that offer guaranteed income. According to official figures, people in the United Kingdom at age 65 can expect currently to live another 22.5 years – which means, on average, they will spend more than a quarter of their lives in retirement.

For more information, please visit the website of AEGON UK.