Destination Retirement
Part of our financial wellness programme
Destination Retirement is a new kind of financial wellness service. We motivate your colleagues by helping them look into the future to imagine what their life after work could look like. We help them make sense of their money, so they can understand whether their resources enable them to meet their life after work goals. The service empowers them and puts them in control.
When someone is ready to retire or start their transition to life after work, it delivers a free personal retirement plan and gives expert financial advice on how to put that plan into action. Destination Retirement helps your colleagues achieve their goals, provides peace of mind and makes sure their savings are managed professionally so they avoid paying unnecessary tax and receive good value. If help is needed, a team of friendly experts are on hand to provide assistance by phone, email or webchat.
The service is split into five stages:
- Think - We start by taking someone through the most important things to think about when planning for their life after work.
- Plan - Next, we produce a personal retirement plan, based on information they provide. Your colleagues can change the information as much as they want, which means people can play around until they have a plan they’re happy with.
- Find - Then we provide expert advice on how to put the plan into action. We'll recommend the most suitable financial products to deliver the objectives in the plan.
- Buy - We take care of all the hard work needed to set up the plan, completing all the paperwork and dealing with the product providers. At this stage, there is a fee payable by the employee, however this initial advice cost will be lower than the average for traditional financial advice.
- Find - Destination Retirement provides support throughout your colleagues life after work. It'll continually monitor the performance of their plan and raise alerts if any adjustments are required. An ongoing advice fee is also payable for this service.
The first three stages are absolutely free of charge. People can take their personal plan and implement this themselves. The services in stages 4 and 5 do incur a charge, but are optional, and will be fully explained before they progress.
Destination Retirement is simple to use and jargon-free, engages users creatively and has been researched and tested to make sure it’s fit for purpose. It can be completed all at once or in stages. When the time is right to retire or start the transition to life after work, Destination Retirement can build confidence and provide valuable peace of mind.
