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Comparison service launched for guaranteed retirement options

Capita Financial Software has launched a guaranteed retirement options comparison service as part of its Synaptic Product Research tool.

The service includes nine guaranteed retirement products, such as fixed term annuities, from six providers including Axa, LV=, Living Time and Met Life.

Advisers can enter client details and requirements and use the system to produce a suitability report.

Advisers can compare product details such as payment options, whether transfers are accepted and if products can be converted to lifetime annuities.

The guaranteed retirement options service is automatically available and free to Capita users subscribing to Synaptic Product Research.

Product director William Watling says: “Some of these products available in the market have been listed within research tools but have often been shoehorned into annuity or drawdown categories.

“The new research area within Synaptic Product Research will allow advisers to consider these unique offerings more clearly.”

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  1. List of providers that i am aware of in this market:

    • Aegon Scottish Equitable – Income for life
    • Alico Wealth Management – Select Portfolio
    • Axa Wealth – Secure Advantage
    • Hartford Life – Guaranteed Income Retirement Plan (GRIP) (this scheme is now closed to new business)
    • Lincoln – i2Live (now part of Sun Life Financial of Canada)
    • Living Time – the Living Time Income Plan
    LV= (also known as Liverpool Victoria) – Protected Retirement Plan
    • MetLife – Secure Retirement option
    • Rockingham Retirement – RITA

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