If you provide pension customers with annuity illustrations, be it as a product provider, trustee or scheme administrator, the FCA policy statement PS17/12 will have an impact on you. The regulator will require all those who offer an annuity income figure to a customer, be it conventional or under a guaranteed rate, to provide a comparison to the best available rate on the open market.
Our service or software solutions will enable you to comply with this regulatory obligation and they can be adapted to suit your needs.
Benefits to you
- Supporting you on being PS17/12 compliant, helping satisfy regulatory obligations.
- Tailored to your existing system requirements, the service minimises development costs and includes all ongoing maintenance.
- Uses the industry best practice for customer data acquisition, and can accommodate conventional and guaranteed annuity rates. It also has the potential to generate revenue for you.
Features of the service
- Annuity comparison tool providing guaranteed open market rates.
- Bespoke system messaging ensures that you're able to populate the proposed pro-forma.
- Option to include a fulfilment service to allow access to the open market rate.
Benefits to the customer
- Access to fully underwritten, best in market annuity rates.
- Opportunity to benefit from a higher income and end to end process support.
- Access to educational material helping them to understand the options available and to make informed decisions.
We operate a range of commercial solutions dependent on a partner's specific objectives.
Please contact us to discuss your requirements.