Pensions agency Punter Southall has launched Pension Potential, an app-based digital retirement planning software for companies and staff, in addition to pension schemes and their members.
The brand new software goals to assist bridge the pension recommendation hole and combines an app-based software with the power to have a video name with an adviser.
Punter Southall says that Pension Potential will, “take the complexity out of retirement planning” by offering personalised monetary steerage and recommendation to people.
The agency says this may empower them to make knowledgeable selections about their pension and retirement choices.
The supplier says it’s responding to latest knowledge from the FCA revealing that one in three savers fail to take regulated recommendation when accessing their pension.
Punter Southall says that knowledge reveals between October 2022 and March 2023, 43,366 pots entered into drawdown with no recommendation or steerage, equal to just about 40%.
It says this continues a development of fewer individuals taking recommendation when getting into drawdown.
Pension Potential offers steerage on retirement decisions, together with annuities, drawdown, money, and blended choices. Pension savers can entry ‘personalised steerage packs’ and an ‘all of market’ annuity search function.
Steve Butler, managing director at Pension Potential, stated: “Pension Potential simplifies retirement planning; making certain people can obtain their retirement objectives. Folks can usually really feel overwhelmed when serious about their retirement, however by bringing collectively key info multi functional place, together with entry to low-cost recommendation, individuals can simply perceive how one can obtain the retirement way of life they aspire to.”
Pension Potential has a variety of instruments together with on-line retirement and way of life calculators and an ‘all of market’ annuity search resolution to pick out the perfect offers. It additionally offers entry to personalised retirement suggestions with a easy ‘recommendation journey’ which ends with a video name with a monetary adviser.
