People’s Pension has partnered with Retirement Line to launch a free annuity guidance service for members aged over 55 considering guaranteed retirement income options.
The service is designed to support members through the annuity process, from initial guidance to purchase, with a dedicated point of contact.
Members will also receive support in completing health questionnaires to help ensure they are assessed for enhanced or impaired annuity rates where applicable. They will be able to access telephone support from trained specialists, alongside online tools and tailored support for vulnerable customers.
People’s Partnership proposition director Kirsty Ross says: “This announcement further demonstrates our commitment to supporting members as they approach retirement, by providing clarity at a time when their choices matter most. By offering our members access to Retirement Line, People’s Pension is ensuring they receive clear guidance and personalised support. This is about helping people make confident decisions in later life, with specialist expertise available at every stage of their retirement journey.”
People’s Pension chief commercial officer David Meliveo says: “Employers want to know their workforce is supported, not just while they’re saving, but when they start making the big decisions that shape life after work. Helping people secure reliable income in retirement is a vital part of that duty of care.
“This new service gives employers confidence that their staff can access specialist, impartial guidance when it matters most. It’s a meaningful step toward improving long-term financial security and ensuring members feel fully supported as they plan for the years ahead.
“This is a great example of how a scheme our size and scale can pass on services to vast numbers of people without it costing them in the long term. While we have millions of members with all sorts of financial backgrounds and needs, this service will really help many of our members who cannot afford personal financial advice. This is a great example of what we stand for.”
Retirement Line chief compliance officer Mark Ormston sas: “We’re delighted to be working with People’s Pension. Especially during a period of competitive annuity rates and strong interest in turning pension savings into secure, guaranteed income. With healthy and growing competition across the annuity market, we look forward to supporting even more consumers in maximising their annuity income by comparing quotes from all the annuity providers on the open market.
“We offer both lifetime and fixed term annuity products on our whole of open market panel, with both products continuing to see increasing demand. In 2025, two thirds of our customers opted for a lifetime annuity, with 80 per cent of these annuities being underwritten based on health and/or lifestyle factors. On average, these consumers received 12 per cent higher annual income compared to the highest standard annuity offered on the open market.
“Whether savers are considering an annuity with all or part of their pension savings, I am confident that People’s Pension members will value the clarity, reassurance and support we provide as they look to make the most of their pension savings.”