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 flexibility 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 it will empower them to make knowledgeable choices about their pension and retirement choices.
The supplier says it’s responding to latest information from the FCA revealing that one in three savers fail to take regulated recommendation when accessing their pension.
Punter Southall says that information exhibits 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 pattern of fewer folks taking recommendation when coming into drawdown.
Pension Potential supplies steerage on retirement decisions, together with annuities, drawdown, money, and combined 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 typically really feel overwhelmed when excited about their retirement, however by bringing collectively key data multi functional place, together with entry to low-cost recommendation, folks can simply perceive the right way to obtain the retirement life-style they aspire to.”
Pension Potential has a variety of instruments together with on-line retirement and life-style calculators and an ‘all of market’ annuity search resolution to pick one of the best offers. It additionally offers entry to personalised retirement suggestions with a easy ‘recommendation journey’ which ends with a video name with a monetary adviser.
