Prudential, a retail financial services group, has launched a new income drawdown plan. The move means the Prudential flexible retirement plan now offers a personal pension with income drawdown and self-investment option all within the same plan wrapper providing a cradle to grave retirement solution for advisers and their clients.

In the retirement planning arena, Prudential is now active in the personal pension, deferred self-invested personal pension and income drawdown markets through this single flexible retirement plan (FRP) product wrapper. This, in turn, is supported by a range of annuity options available in the market for clients looking to secure an income for life.

Aston Goodey, director of retirement income at Prudential, said: The retirement market is changing beyond all recognition yet the solutions available to advisers and clients have not kept pace in terms of flexibility and transparency. Clients want simplicity of product and charges, and the ability to manage their retirement plans in one place. Likewise they want to maximize their income in retirement and we believe that our FRP allows them to do so through a single product, single charge structure rather than investors having to rely on multiple products at each stage of the retirement planning lifecycle.