Annuity guidance service for better retirement income outcomes
As pension pots grow through automatic enrolment, more people are reaching retirement with meaningful savings — and a greater need for support in how to withdraw them effectively.
Support beyond pension saving
At People’s Pension, we’ve extended our support for those making complex decisions around retirement with the launch of a new annuity guidance service for members aged 55 and over.
Delivered in partnership with Retirement Line, the service offers free access to specialist support for those considering turning their pension savings into a guaranteed income for life.
Helping employees plan retirement more confidently
Making decisions at retirement can feel overwhelming. Many individuals lack the confidence to choose how to convert their savings into a sustainable income.
This service is designed to simplify that process. It helps employees approach retirement with greater clarity, confidence and peace of mind.
Members benefit from a single, dedicated point of contact throughout their annuity journey — from initial consideration through to completion. Support is available via phone, digital tools, and tailored assistance where needed.
For employers, this offers reassurance that their workforce is supported not just while saving, but when making some of the most significant financial decisions of their lives.
Trusted guidance at the right time
Access to clear, reliable guidance can make a significant difference to retirement outcomes.
Through Retirement Line, members can:
- Compare options across the open annuity market
- Receive help completing health and lifestyle questionnaires
- Ensure they are considered for enhanced or impaired annuity rates
This type of support is particularly valuable for those who may not have access to paid financial advice. It ensures more people can make informed decisions, supported by expertise at every stage of the process.
Understanding annuities
Annuities are regaining prominence as a way for retirees to secure a dependable income.
Simply put, an annuity converts some or all of a pension pot into a guaranteed income, either for life or for a fixed period. As rates become more competitive, more individuals are considering annuities as part of their retirement strategy.
However, outcomes can vary widely. Without guidance, individuals may miss opportunities to secure a higher income based on their personal circumstances.
Pension annuities – unlocking greater value
One of the biggest benefits of expert guidance is ensuring individuals access the best possible income.
Retirement Line data shows:
- Many annuities are now enhanced using health or lifestyle information
- A significant proportion of customers benefit from these tailored rates
- On average, eligible individuals secured around 12% higher annual income compared to standard annuities
By guiding members through this process, the service helps maximise retirement income and improve long-term financial security.
Navigating life’s biggest financial decisions
Retirement is one of life’s most important financial milestones. Moving from saving to maintaining a reliable income requires more than just products — it requires guidance, clarity and confidence.
By introducing our annuity guidance service, People’s Pension is helping bridge that gap.
