The Pensions Regulator’s research reveals that most members are not provided with adequate support to make sure they select the best available option at retirement. This is not the case with the National Pension Trust.
The National Pension Trust supports members, given their individual circumstances, to select the most appropriate benefits for them personally be that tax-free cash, an annuity or income drawdown.
Where an annuity is selected, the National Pension Trust supports members to obtain the most competitive terms available. The retirement service will undertake a review on a whole of market basis, unrestricted by a pre-determined range.
Members can access a secure website, where they can obtain real time annuity quotations on a variety of bases, specific to their circumstances. All members also receive a personalised report, in paper format, detailing their options.
Freedom of Choice
Members are not obliged to utilise the retirement service – they are free to search the market themselves or appoint their own independent financial advisor. However, it is important to note the differential in retirement income that effective support can afford.