AXA Wealth’s pension products will be supported by other investment products from the company’s stable as well as a new range of tools. The new adviser toolkit, which will launch to coincide with the new retirement regime in April, will help show how much money people will need to cover the essentials, such as housing or food costs, and how much they want on top of that to cover the nice-to-have things such as holidays or a new car. AXA Wealth will also offer tax optimiser tools, to help show the most tax efficient ways to invest for the future and withdraw money as and when customers need to.
Whether advisers are looking for a wrap based solution, a standalone pension or a family/group SIPP, AXA Wealth’s full pension range will be ready for the increased pension flexibility and freedoms.
With the average adult in the UK potentially having almost a 40 per cent1 drop in the level of income they will receive in retirement compared to while they are working, and guarantees being important to over 80 per cent2 of retirees, AXA Wealth is making it easier for advisers and their clients to plan for retirement.
David Thompson, managing director of business development and proposition, AXA Wealth, said:
“As part of our response to the pensions changes our full range of pension products will be ready to offer advisers and their clients the flexibility they want from April 2015. Advisers are dealing with enough changes ahead of April, without a whole raft of new products. Our range of pension products are established in the market and will be ready from day one.
“In the new retirement world customers will be looking for competitive and flexible solutions to provide a secure and lasting income in retirement. Many providers are now investigating options for post-annuity breeds of income guarantees, this is an area the AXA Group already has expertise in and believes will play a much larger part in an holistic retirement solution post-April.”
AXA Wealth’s reform-ready retirement proposition includes: The Retirement Wealth Account, The Personal Pension, Elevate Pension Investment Account and the company’s group SIPP, Family Suntrust.
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