Broking technology firm GBST Wealth Management is to power Just Retirement’s new simplified retirement platform.
The advised-only platform has been developed following the introduction of pension freedoms earlier this month. It will allow customers to purchase an annuity as well as leave their pension invested in a low-risk “rainy day” fund.
Just Retirement group communications director Stephen Lowe says: “Initially we will provide middle Britain customers with a solution to secure pension savings, not required to generate a guaranteed income for life, in a tax efficient environment supported by a small range of passive funds.
“This will enable people to mix-and-match their retirement savings, to ensure their regular expenditure is covered by a guaranteed income for life and keep any additional savings flexible for those just-in-case moments of unplanned irregular expenditure.”
GBST Wealth Management chief executive Rob DeDominicis says: “Although the pension freedoms announcements earlier this year took many pension providers by surprise, our technology is flexible enough to adapt without incurring huge development costs, ensuring that our clients can move quickly to meet evolving customer needs and seize competitive advantage within the changing regulatory environment.”