Smart Pension has launched a new guided retirement journey for savers, with a view to helping them make more informed decisions prior to retirement.
This is offered through its Smart Retire solution, and is targeted at members aged 45 and over. It combines digital planning tools, educational content as well as guidance and support from a specialist team.
This includes a new features on its app and desktop portal, called “Get retirement ready” feature, designed for members aged 45 to 55. This uses a checklist-style approach to encourage members to take practical steps to improve retirement outcomes.
Smart Pension said the launch reflects the importance of engaging savers when earnings are likely to peak and financial priorities begin to change.
Alongside the digital tools, members will be able to talk to the Retirement Support Team. Rather than operating solely as a traditional contact centre, the service allows members to book telephone conversations at convenient times, with no fixed limits on the length of discussions.
Smart Pension says this has been enabled by its ongoing investment in technology and AI, allowing, staff to focus on more member interactions while routine processes are automated.
The launch builds on previous improvements, including fully digital retirement claims, faster identity verification processes and expanded pension freedoms functionality through its app and portal.
Smart Pension said its Smart Retire proposition is built around a “four-pot” retirement model designed to help savers move gradually from accumulation into decumulation while remaining invested and drawing an income. Members can later move into a guaranteed income product if they choose.
Smart Pension proposition manager Andy Fergusson says: “A modern retirement is no longer a single moment at the end of someone’s career, which is why we are focused on helping savers engage with their pension in their 40s and 50s to support them through that journey.
“For many savers, these are the years where earnings may be higher, financial priorities begin to shift and retirement starts to feel more immediate, creating an important opportunity to review contributions, understand available tax benefits and make more informed long-term decisions. By combining practical digital tools with more tailored human support, through a dedicated retirement support team, we are helping savers approach retirement with greater confidence and a clearer understanding of their options.”
