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The service is available for anyone who wants to set up a Rowanmoor Pensions Sipp or family pension trust.

This move follows an increase in the popularity of scheme pensions in recent months.

The scheme pension illustration provides members with a projection of the amount of income to expect from a scheme pension, in comparison with an unsecured pension and alternatively secured pension.

David Seaton, joint managing director of Rowanmoor Pensions, said its illustration helped members to plan for their future pension requirements, which was a fundamental part of retirement planning.

He said: "We have seen a marked increase in pensioners opting for scheme pensions as it offers the potential for taking higher levels of income and can be paid with a guaranteed period of up to 10 years.

"Our scheme pension illustration provides a valuable guide of what would be received in retirement, along with a comparison if income was received as unsecured pension or alternatively secured pension.

"It is essential that pensioners are made aware of all the alternatives available when taking income from their pension fund."

James Jones-Tinsley, an IFA for Leeds-based Pearson Jones, said: "Anything like this is useful. Especially in terms of the options that are available at point of crystallisation, or at the point of taking benefits.

"The ability to compare and contrast with various options is good from an advisers point of view."