Smart Pension partners with Punter Southall to provide ‘Pension Potential’ annuity comparison tool to help its million-plus members maximise their retirement savings and make informed decisions about researching, comparing and buying annuities.
The tool is now available to Smart Pension members, who can use it to walk through each annuity on the market and understand what it means for them personally.
Smart Pension manages more than £4bn in assets on behalf of more than one million UK savers and offers pensions to more than 70,000 companies.
Punter Southall created the Pension Potential tool in response to the rising need for online solutions.
Smart Pension senior director of strategic delivery Eve Read says: “The nature of retirement is changing and fast. We know people want to be in control of their finances, but rising interest rates and rising costs of living are changing the landscape for many savers approaching their retirement.
“We are continuing to build on our award-winning retirement proposition, Smart Retire, so our members have flexibility and control in retirement, and are helped in making important decisions to ensure they are using their money in the best way.
“Retirement is complex and people need help if they are to make the most of their savings. Annuities now play a more important role in retirees’ financial management and we believe it’s important to provide our members with a full market annuity broking service. We’re delighted to be partnering with Punter Southall to launch this new service to our members, so members can make the most of their well-earned retirement pots and maintain flexibility and control in retirement.”
Punter Southall chief executive Steve Butler says: “We’re delighted that Smart Pension has recognised what we’ve developed is in harmony with their approach, the needs of their clients and the aspirations of their members.
“For decades, we have strived to make pensions clearer and easier for everyone. In this case, savers can now see in seconds what a guaranteed income in retirement means for them. We are genuinely excited about sharing our know-how and creativity to help more people now and in future.”
