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Defaqto releases guide to balancing pension freedoms and risk

Over the last five years there have been several key legislative changes, leaving advisers with a requirement to quickly adapt their processes to ensure they continue to be fully compliant. This guide, written in conjunction with Canada Life will equip advisers with key information and advice to help guide their decisions.

The guide is split into two parts, the first section evaluates how the market landscape sits currently, summarising current legislation and the options available to clients upon retirement. The second section reviews The Retirement Account from Canada Life and how it could be used to meet the needs of clients accumulating funds, consolidating pension monies and/or looking to take benefits.

The guide will help advisers to

  • Understand the retirement landscape and secure good knowledge of the range of solutions which exist (drawdown and annuity based).
  • Understand the key aspects of regulation surrounding a retirement strategy and the more recent changes and updates.
  • Understand and appreciate the various risks (not just market and investment) that exist in running a retirement income strategy.
  • Understand the different retirement choices and retirement income options and how they meet differing customer needs.

Andrew Duthie, Insight Consultant (wealth) at Defaqto comments: “The financial advice landscape is constantly evolving and advisers are facing multiple challenges from a regulatory perspective. With so much noise in the market, the retirement space can be difficult to navigate. With the pivotal role that financial advisers have, it is key that they take the time to understand new products launching in the retirement space in their entirety.

“This guide aims to help advisers understand how they can best ensure they’ve applied a duty of care to their clients, researching the entire market, as well as considering the benefits of the type of structure applied by Canada Life.”

For more information, contact IFA Magazine

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