Surrounded by the greyest pieces of legislation on the planet the advent of the Retail Distribution Review (the commission ban) in tandem with Automatic Enrolment has surprisingly produced the sexiest pension products we’ve seen in the UK – and at the historically lowest price point.
These days a basic work place pension product can be deemed “a product for life”. Most can facilitate every functionality of investment and retirement choices permitted by HMRC under the “Pension Freedom’s Act”
This coupled with the technology, fund platforms and software the pension providers have now stepped up and put in place a system is a joint employer and employee dream.
Whether or not you take advice the market leaders in this space have designed their systems to be interactive user-friendly online systems for employees and advisers alike.
You can create your own projections at different retirement ages and contribution levels, assess your funds performance, see your contributions and your employers, conduct risk profiling assessments, and a whole lot more.
Availability and access to these products and the bespoke pricing applied to each firm will depend on company size, average age of the scheme and the average level of contributions.
For each client we will conduct a full review of the traditional pension providers offerings and those of the Master Trusts.
Upgrading and / or reviewing existing schemes, their technology and their Automatic Enrolment functionality is all part of the advice process.