Just Group has announced the launch of a new structured pension product, offering guaranteed income and growth over a chosen period, in partnership with adviser platform Fundment.

The FTI product, which is integrated within a client’s platform-based personal pension portfolio, is designed to help advisers enhance diversification, simplify administration, and shield clients from market volatility, while also improving tax efficiency.

In line with this, it provides a guaranteed return for a pre-selected term, with the option of a pre-defined capital return at maturity.

Payments are made into the personal pension cash account, allowing for reinvestment and tax planning opportunities.

It also includes death-benefit and early surrender options and is fully protected by the Financial Services Compensation Scheme (FSCS).

The launch builds on Just Group’s existing secure lifetime income (SLI) solution, with Fundment becoming the first adviser platform to offer the new product alongside SLI.

The insurer said that the two products are designed to complement each other, allowing advisers to create blended retirement solutions.

Commenting on the launch, Just Group director of retail distribution, Sean Osborne, said: “We are delighted to announce FTI will be available on Fundment, which is at the forefront of adviser platform technology and is committed to giving advisers access to innovative new solutions.”

Fundment founder and CEO, Ola Abdul, added: “We are committed to becoming the leading all-in-one tech platform that supports advisers’ needs across all their financial planning activities, which includes providing access to innovative retirement market solutions such as Just Group’s FTI and SLI.”

Just Group emphasised that the product is suitable for a wide range of clients approaching, at, or in retirement, and that it aims to fill a gap in the market for guaranteed solutions that can be held alongside other personal pension assets.

Indeed, Osborne argued that advisers are increasingly moving away from single-strategy approaches to retirement and toward hybrid solutions that offer a mix of certainty and flexibility.

With this in mind, he said that FTI offers solutions in a wide range of client circumstances, providing more scope for diversification with no income fluctuations, transfer delays, and no counterparty risk.

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