Noticing a shift in customer perceptions of pensions, driven by heightened complexities and options with pension products, Equiniti Pension Solutions have developed a range of digital tools to help people understand some of these complexities better and to manage their pensions more easily.
Equiniti’s digital self-service suite, developed by Mubaloo, offers their scheme members the ability to manage their pension and investment funds via a rich and engaging experience, providing easy access to their pension information. However, with the dramatic changes to pensions that came into effect on 2015, Equiniti identified the need to help both their scheme members and any pension holders understand their options for releasing their pension over a longer period of time, versus taking it out in lump sums.
In response, to help pension holders closer to retirement age, Equiniti partnered with Mubaloo to create RetireMe, an app that helps people understand how long their pension will last. RetireMe is designed to be a simple app that helps users quickly and easily model their pensions, whether they choose to release it slowly over time with the ‘Flexi Access Drawdown Fund’ or in lump sums with the ‘Uncrystallised Funds Pension Lump Sum’.
In support of the RetireMe tool and to further help pension holders understand their options Equiniti has released this video.