An online annuity planner and telephone-based advice service is at the heart of Tilney Bestinvest’s retirement proposition, Lee Dooley, managing director of direct & advisory, has said.
He said: “The At Retirement service is aimed at helping those approaching retirement understand the choices under the pension freedoms and choose a solution that suits their needs.”
The service provides the option of speaking to a financial planner through the firm’s network of local offices across the UK.
The annuity planner, in partnership with Just Retirement, allows people to compare live quotes from a panel of 10 providers: Aviva, Canada Life, Friends Life, Hodge Lifetime, Just Retirement, LV, MGM Advantage, Prudential, Scottish Widows and Standard Life.
For its Sipp drawdown product, charges at launch have been revised on the wrapper to absorb certain third-party administration costs, including the annual charge for income payments after tax-free cash.
The Best Sipp’s tiered account fee is 0.3 per cent a year for balances up to £250,000, reduced to 0.2 per cent for balances between £250,000 and £1m and with no charge over £1m.
For those wanting to manage their own investments, the Sipp provides access to more than 2,500 funds, as well as investment companies, ETFs and UK shares.
Paul Holiday, financial adviser at Norfolk-based Green Sky Wealth, said: “The Sipp drawdown charges sound very competitive compared to others, though it depends on the fund range and service. The annuity comparison sounds like the Money Advice Service proposition. Does it allow you to compare other circumstances such as ill health or take into consideration demographics? “