Companies are now seeing a large number of members retiring with defined contribution (DC) pension scheme benefits. The options for members retiring from DC pension schemes are very complex and members require an extensive amount of financial advice and support at the point of retirement to ensure that they understand all of the options available. The decision around the retirement benefits from a DC pension scheme at the point of retirement is one of the most important financial decisions that an individual will ever have to make and it is important that members are fully informed when making this decision.
Our advisors provide impartial, conflict free advice. Our approach to analysing options involves carrying out comprehensive fact-finds and asking members to complete risk questionnaires.
When we meet with members at retirement, we will explain the various options available to them and the financial implications of choosing each option. If the member would like assistance setting up an annuity or an Approved Retirement Fund, we can ensure that the members avail of the favourable charging structure that Willis Towers Watson has agreed with all of the potential providers.
Please contact your Willis Towers Watson consultant or a member of our financial planning team who can explain how we can assist your pension scheme employees at the point of retirement.
