Bringing you live news and features since 2006 

Capita launches advice service for employees nearing retirement


Capita Employee Benefits has joined forces with LV=, Foster Denovo Limited and Towry to offer guidance and financial advice to employees approaching retirement.

The new At Retirement service is being headed up by newly-appointed Rob Tinsley who recently joined from Aspire to Retire, and is aimed primarily at employers and trustees with defined contribution schemes.
It has been developed in response to significant demand following the introduction of freedom and choice within pension schemes.
At Retirement enables employers to offer advice services to their employees, thereby helping to safeguard their workers’ financial welfare.
At Retirement will offer three tiers of advice: non-advised (through LV=), for members who know what retirement strategy they want, which may typically include an annuity purchase; robo-advice (through LV=) for relatively straightforward, medium sized pots, which is backed up by telephone support from regulated advisers; and full advice, with either face-to-face or telephone-based advice, offered by either Foster Denovo or Towry, for those with typically larger pots, more complex needs, or those who do not want to use an online service.
The pension freedoms give members far greater choice in at-retirement solutions. However, financial advice hasn’t always been viable for the mass market and consequently, there is the possibility of members making ill-informed decisions about their long-term financial wellbeing.
Gary Smith, head of DC at Capita Employee Benefits, says: “We know that not enough people are willing to pay for advice upon retirement, with most wanting that service to be offered by their employers while they are still in the workplace. Unless they are offered this service, ill-informed retirees risk making bad decisions, at a time when advice is essential.
“Not only will our At Retirement service help minimise that risk, it will help employers demonstrate good governance and offer an enhanced retirement process to their valued employees. What’s more, we hope it will also increase member engagement with their pension schemes, and improve outcomes by safeguarding their financial welfare.”
John Perks, managing director of retirement solutions at LV=, says: “We’ve found that nearly half a million people retire each year without taking advice, meaning they could be losing out. At present there is a lack of affordable, accessible, quality advice but LV= has been at the forefront of finding innovative ways to make it easier for people to take advice. 
“LV= is delighted to be working with Capita to offer their members a convenient, affordable solution and help make regulated advice more accessible, even for those with smaller pots.”
Roger Brosch, CEO at Foster Denovo, says: "We have always advocated the need for financial wellbeing in the workplace. It is therefore extremely positive to see Capita supporting its clients’ employees in this way, and to be involved in something that has the potential to affect many lives."
Andy Cowan, head of private client at Towry, adds: “There are many choices and opportunities facing people approaching retirement. In many cases it’s not just about pensions it’s more about a future lifestyle, and creating a plan that helps them to achieve this lifestyle to give them the retirement they want. At Towry we are well placed to deliver this and are delighted to be working with Capita to deliver advice at a critical stage in an individual’s life.”

Latest News

Invesco’s Paul Syms, Head of EMEA ETF Fixed Income and Commodity Product Management, has commented on the gold price, saying:..
Everysk, a provider of customisable, no-code, low-code intelligent automation solutions, has been chosen as a strategic partner of Dynamic Beta..
Rize ETF has listed its new Rize Circular Economy Enablers UCITS ETF (CYCL) on the London Stock Exchange (LSE) and..
DWS has launched a new Xtrackers ETF based on European Nordic equity markets, aligned with the goals of the 2015..

Related Articles

Stephanie Miller Pierce, BNY Mellon
The three-year anniversary of BNY Mellon Investment Management’s launch of ETFs was marked by the quarter one growth of 172...
South Korea Flag
The overall trend in retail subscriptions to mutual funds in Korea is shifting gradually toward ETFs, as exchange-traded offerings have...
“The beauty of ETFs is that you can have effectively a rules-based strategy at low cost” says Laurent Kssis, head...
Henry Timmons, RBA
Henry Timmons, director of ETFs and Michael Contopoulos, director of fixed income at Richard Bernstein Advisors are on a mission...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by