Friends Life has linked with Key Retirement Solutions to offer a whole of market shopping around service to pension customers who do not have an adviser.
The provider says the non-advised arrangement will be piloted over the next few months and is being introduced to help people make the most of their pension when they reach retirement.
In addition, Friends Life has entered into an agreement with FICO, a provider of analytics and decision management technology, to develop an annuities management system that will help it tailor the pricing of annuities to each individual customer’s circumstances.
Friends Life retirement income managing director David Still says: “It is important for customers approaching retirement to explore their options to ensure they have the relevant information necessary to help them reach the right decisions.
“Where a customer doesn’t have a financial adviser, we want to ensure they can easily access the support they need to make decisions that will affect their financial wellbeing for the rest of their life.”
Key Retirement Solutions group director Dean Mirfin says: “Maximising income in retirement should be at the heart of the retirement process.
“Key Retirement Solutions has built a robust whole of market process delivered in a way which puts the customer at the heart of that process.”