My Retirement Options have launched their free-to-use retirement plan, as an alternative to the government’s free Pension Wise guidance system.
New freedoms introduced in April now allow retirees complete access to their pension funds. Pensioners will no longer be forced down the annuity purchase route (though can use an annuity if this is their best option), but could manage their own income via the process of income drawdown. This means that people are being expected to make more and more complex decisions about their financial future.
The government’s Pension Wise system will outline all of your options, but does not offer recommendations and cannot constitute formal advice: something that should be sought when making substantial financial decisions such as managing your retirement income.
My Retirement Options’ retirement planner is completely free to use. It will provide you with a basic recommendation based on your personal circumstances, before connecting you with a local financial advisor. The financial advisor will then offer you a free, no-obligation consultation to explain your options in further detail.