Living Time rebrands as Primetime Retirement

Fixed term annuity (FTA) provider Living Time will relaunch as Primetime Retirement in Q1 this year.

It will also launch a new retirement product for the over-75 market in March.

The rebrand comes after the end of the company's distribution deal with MetLife, signed in January 2011. 

Primetime's new product, the Primetime Retirement Plan, uses a deposit-based structured product from Investec within a SIPP.

Kim Lerche-Thomsen, chief executive of Primetime, said: "The conventional FTA model that we pioneered has a great number of advantages such as fixed income, a guaranteed return and better death benefits than a traditional annuity.

"The Primetime Retirement Plan we are now launching takes these features and wraps them within a SIPP to provide even greater flexibility.

"We know that one additional benefit IFAs would like to be able to deliver to clients is investment upside. Our new plan achieves this through the use of a structured deposit product provided by our new partner, Investec Structured Products."

The plan can also be used as a trustee investment into an existing SIPP.