Introducing Secure Lifetime Income - a new approach to retirement income
We've designed a new groundbreaking retirement income solution to help your clients achieve the flexibility and security many of them want following the pension freedoms.
Secure Lifetime Income (SLI) enables you to offer your clients guaranteed income for life within a SIPP, where you do business – on platform.
This means you can easily create a personalised blended retirement income solution for your clients, combining the flexibility of drawdown with the security of a guaranteed income for life. It also helps clients manage the potential risk of running out of money.
Secure Lifetime Income offers benefits to you and your clients
This exciting solution offers a variety of benefits for you and your clients including:
- Guaranteed income for life – SLI provides an individually underwritten guaranteed income which takes account of your client’s individual health and lifestyle, ensuring your client will never run out of money in retirement
- A legacy on death – SLI provides a lump sum death benefit should your client die during the set death benefit period, which means that wealth can be cascaded through the generations
- A cash-in option – should your client’s circumstances change significantl during the set cash-in value period
- Simplicity – all retirement assets held in one place with a single P60 and a single portfolio view
- Tax efficiency – income and any death benefit is paid into the SIPP enabling clients to choose when to withdraw income for tax efficiency.
- A modern way to meet your client's secure income needs – opportunities for tax planning and income management on platform
- Business efficiency – a process designed to work with your business and investment management models with an online underwriting, quote and apply process
- Ongoing de-risking option – progressively de-risk your client portfolios as they get older, and their risk appetite and capacity for loss changes
- Tax planning opportunities – the flexibility to advise how and when income is taken to match client need and minimise tax.
Our new Secure Lifetime Income is currently only available through Novia.