Mercer adds retirement option to platform

Mercer has added a retirement investment option to its Mercer Portfolio Services retail platform.

The company announced this week that the option, LifetimePlus, had been added to the platform in response to rising demand from financial advice dealer groups for affordable solutions to longevity risk.

It said the platform, supported by Colonial First State's wrap technology, was the first retail platform to offer LifetimePlus, an investment option that forms part of an account-based pension, paying members an income for the rest of their lives.

It said inclusion of the option on the platform expanded availability of the product to over 50 financial advisers and 7000 customers who access the MPS, and represented the first step in enabling a broader group of advisers to provide LifetimePlus to their clients.

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