Defaqto has launched an independent guide aimed at planners who advise on retirement planning – both in the accumulation and decumulation phases.
The CPD accredited dossier explores sustainable income at retirement, benchmarking returns and suitability key points to consider before taking benefits.
The study also includes a decision tree to support those advising clients with savings in a pension scheme, and examples of how pension savings can be passed tax-efficiently through generations.
Richard Hulbert, Defaqto insight analyst (Wealth), said: “The pension freedoms have resulted in a seismic movement from the sole selection of an annuity to drawdown. However, for many clients a blending of solutions may often be more appropriate for those in retirement.”
“This case study details the tax planning opportunities available to those in search of income in retirement. It also takes a detailed look at how segregated income needs may be identified, and then meet them using different income sources. It also illustrates how income and/or capital may be sustained in the attempt to avoid ultimate financial ruin.”
Shane Hyland, financial adviser at Cardiff-based HRW Financial Consultants, said: “I had a quick scan of the guide and it actually looked quite useful.
“A vast majority of financial advisers do not know the ins and outs of the new pension freedoms. Guides, seminars and anything that can help them improve their knowledge is a good thing.”