One account for life
For financial advisers only
A simple retirement savings and income solution
One Retirement offers your clients the opportunity to consolidate and grow their savings and provides flexible income solutions – all in one simple, online account.
Bring finances together
If your clients have built up a number of pension pots through the years, they might want to find a single home for their savings. With its online management, and charges that reward consolidation, One Retirement could meet their needs.
By bringing their pension plans together, your clients will have a clearer picture of their total savings. Consolidating can also make it easier for you to keep track of where they are in relation to their retirement goals as you can view and manage all of their pension savings together online, taking the hassle out of dealing with lots of different providers.
Taking a pension income made simple
Most people don't simply stop working the day they turn 65 any more, and since April 2015, people have much more freedom in how and when they can access their retirement savings.
With One Retirement your clients don't need to change accounts when they take benefits. It offers a flexible range of income options that let them choose the route that's right for them, or use a combination.
You can find out more about each retirement income option below.
| Cash lump sum | Annuity | Drawdown with guarantees | Flexi-access drawdown | |
|---|---|---|---|---|
| Your client can cash in their policy, and pay tax on savings over 25%* of their total pot | Guarantees an income for life but with limited flexibility | Secure Retirement Income guarantees a minimum income for life, and lets them make changes if needed | Provides an income whilst their fund remains invested but their income isn't guaranteed | |
| Guaranteed income for life | Yes | Yes | ||
| Pass savings to loved ones | Yes | Extra cost | Yes | Yes |
| Make changes if needed | Yes | Yes | Yes | |
| Growth potential | Yes | Extra cost | Yes | Yes |
* The amount of tax-free cash available may vary depending on circumstances and any guarantees previously secured.
Any guarantees are based on the ability of the issuing insurance company - in this case Scottish Equitable plc - to pay them. If, for example, that company no longer existed, then the guarantees it provides would be affected.
The value of an investment can fall as well as rise and isn’t guaranteed. Your client could get back less than they originally invested.
Why choose one when your client can have the best of all worlds?
One Retirement allows your clients to take a combination of these options. So, for example, with One Retirement you could use Secure Retirement Income to cover your clients essential costs, and invest the rest in flexi-access drawdown, which generally has better growth potential. And if their circumstances change, they can move between the two easily. Client income needs are likely to change over time, so the flexibility to make changes to your clients plan is valuable and it allows them to phase into retirement over time.