A former policy director of the Tax Incentivised Savings Association is set to imminently launch a new association which will offer information and tools at those nearing or in retirement.
The Retirement Income Alliance is the brainchild of Malcolm Small, currently an adviser to the Institute of Directors on pension policy, and former Tisa policy director.
The new body is focused on enabling better retirements for all, by offering the public and employers a “unique”, objective resource to enable people to gain a better understanding of the options for securing and maintaining an adequate income in retirement.
The Retirement Income Alliance is a membership organisation primarily designed for individuals, but also for employers and retirement income provider firms.
The resources provided will include high quality, objective and transparent information and tools, easy access to shared experience, relevant research, workplace education, campaigning and sign-posting to further sources of support.
Although the new offering sounds like a competitor to the government’s guidance service, the group emphasised it will not overlap with Pension Wise, the Pensions Advisory Service or the Money Advice Service but will “complement them”.
The group added it will not provide personalised advice, which is a regulated activity.
Helen Coulson is operations director and David Lee is director of content and research, with further appointments to be confirmed shortly.
Mr Small, RIA chief executive, said: “I am very excited about our launch in the near future and providing what many agree is the missing element of support for a public facing greater freedom over how they secure their income in retirement than ever before.
“Most people approaching or already in retirement will find the range of options now open to them daunting and bewildering.
“They desperately need truly objective, high quality information, tools and sign-posting to make better choices and achieve better outcomes, and that is precisely what the RIA will provide.”
donia.o’loughlin@ft.com
