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Aspen sets up annuity arm to target DC market

Actuary and pension consultant Aspen is setting up a specialist annuities arm to target pension trustees with services for the growing defined-contribution pension market.

Aspen Annuities will offer open market annuities and advice on retirement opt-ions, including impaired life annuities and investment-linked annuities and income drawdown. There are two online annuity calculators that give the best rates offered by insurers and lets trustees calculate how much income a pension trust will generate.

Aspen, which specialises in consultancy services to small and medium-sized businesses, has launched the service using the expertise of subsidiary William Burrows Annuities, which was brought into the group last September.

Aspen Annuities director of annuities Billy Burrows says: “Aspen Annuities will meet the growing demand from the trustees of corporate pension schemes for a specialist advisory service. Our calculators are an innovative tool which allows trustees and members to get a quick and accurate snapshot of the annuity market, which will result in members getting better value from their pension funds.”

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