Gone are the days of a straightforward choice between annuity and drawdown. Today many clients don’t even hold their wealth in a pension. Instead, cash, ISAs and property are all popular ways to fund retirement.
With more income choices available to your clients, greater potential to leave a lasting legacy, and tax implications (both good and bad) associated with each option, a unique retirement strategy is essential.
To help you visualise our retirement proposition we have created an infographic which you can download here.
Our retirement proposition, IncomeSelect, enables you to create just that. Through a unique combination of tools, products and support, it allows you to manage your clients’ assets and income to deliver their desired retirement outcomes – helping you ensure they fully benefit from the new pension freedoms that came into effect on 6 April 2015.
IncomeSelect brings to together the following elements to allow you to deliver robust, scalable yet tailored advice at retirement:
- The Retirement Income Explorer tool – a sophisticated, yet simple to use planning tool for income
- The Generation Portfolios – 3 CPI+ targeted multi-asset portfolios, aimed at delivering a smooth retirement income whilst reducing the risk of erosion of clients' pension capital
- The Collective Retirement Account – a personal pension with a comprehensive range of flexible income options to drive tax-efficiency and meet clients' changing needs through their retirement journey*
Check out our Redefining retirement planning brochure for:
- four key questions you can ask to help uncover your clients’ retirement expectations
- our suggested sequence for using assets to deliver retirement income
- a retirement advice blueprint with steps you may wish to introduce into your advice process.
*The tax treatment and efficiency of these options will depend on the individual circumstances of each customer. Tax rules and their application may change in the future.
Going ‘beyond pensions’
Importantly, IncomeSelect goes beyond solely pensions and the new pension freedoms. It offers all the support you need to help your clients: