Inflation causing Americans to change the way they think about retirement

With rising inflation, high cost-of-living expenses, and lean returns on current investments, many Americans are feeling less confident about their ability to stay on track with their financial planning and retirement goals.

According to a recent Ipsos survey¹, 58% of Americans say inflation has adversely impacted their personal finances, with 36% of Americans saying they have reduced their savings and 21% have reduced their retirement savings.

The survey also relays that 25% of Americans say they will need to delay their actual retirement, with 59% of those aged 25-34 say they’ll sacrifice contributions to retirement savings. In general, 80% of Americans say they are making lifestyle changes to help offset the increased cost of living.

As you think about how you help clients navigate this challenging market environment, annuities may play an important role in protecting their retirement strategy. With its simple design and lifetime income benefit, our Protective Income Creator fixed annuity can add predictability and protection to help clients feel more confident about retirement.

That's why we're excited to announce that we've increased withdrawal rates with our Lifetime Income Benefit, available with Protective Income Creator fixed annuity. These new rates will offer even higher guaranteed income to help clients reach their retirement goals with confidence.

It’s one more way we’re enhancing our products to reflect the needs of clients — giving them a guaranteed income stream and flexibility with their principal protection.

We increased withdrawal rates; here’s what it means for clients

Protective Income Creator fixed annuity offers a simple, cost-effective design with one low annual fee to help support clients' retirement goals. Now, our newly enhanced withdrawal rates offer even higher guaranteed income.

We increased our withdrawal rates by 25-70 basis points - creating stronger guaranteed income across a range of retirement ages. For example, a client who purchased Protective Income Creator fixed annuity with a $100K payment at age 60 could see $900 more in protected income* with the increased withdrawal rates.