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Pensioners shun Pru's flexible annuity.

PRUDENTIAL'S pension annuity, the first of its kind, has been branded an almighty flop, with only a handful of people buying the product since it was launched in a blaze of publicity over a month ago.

Fewer than 10 customers have bought the Flexible Lifetime Annuity, according to independent financial advisers. They blame the product's complexity for the poor uptake.

At one level it works like a traditional annuity, paying an income for life in retirement. But instead of committing all funds to buying the annuity on retirement as usually happens, pensioners c

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