Bridge Sunset

Daunted by the new pensions landscape? Here’s how to navigate it

30 Apr 2019

In this shifting landscape, financial advice is a necessity not a luxury.

The world of 2014 seems a very different and distant place. No President Trump in the White House. No Brexit. No #MeToo or Apple watches, and Jose Mourinho won the Premier League with Chelsea. Remember those days?

There’s been one other radical change since 2014 too, though it doesn’t grab so many column inches: pension freedoms.

It’s been five years since the then-Chancellor George Osborne announced this complete shake-up of the UK retirement landscape. In doing so, he transformed the long-term finances – and therefore the lives – of millions of people.

Freedom also means freedom to make mistakes

With greater freedom for consumers comes greater risk, of course. As well as inflation risk, the retired now face sequence risk, longevity risk and the very real prospect of running out of money. [Click here to read our previous article: Do your clients worry about running out of money in retirement?] The consequences of getting things wrong will be harsh.

In this shifting landscape, financial advice is a necessity not a luxury, and the opportunities for advisers are huge. Clients now need good retirement planning, not just up to their retirement but after it too. And retirement these days can last for decades.

However, the challenges for advisers are rife too. Do you have the solutions you need, not just for accumulators but also for decumulators? Do you have scalable solutions that allow them to meet your suitability obligations? And do you have propositions suitable for real-life clients with real-life uncertainties?

Enter the CRP

The Centralised Retirement Proposition (CRP) builds on the Centralised Investment Propositions that advisers already know and love for their accumulator clients, and caters for decumulators too.

Perfect, in theory, but there’s a dearth of suitable products in the marketplace. Above all, with the current crop, there are serious issues around inflexibility. [Click here to read our previous article: We’ve taken the CRP and made it better] Looking at this landscape, 7IM decided it’s time for better. So, we designed our Retirement Income Service (RIS) for you.

Enter our own CRP

The 7IM RIS offers an almost infinite number of permutations to cater for the new landscape, but comes in a package that’s easy and cost-effective to use.

It’s constructed around five time horizons, whereas most CRPs struggle to achieve three, and offers you a strong proposition for managing sequence and longevity risks. It’s scalable and repeatable, and keeps you at the centre of the client relationship.

And one more critical point – we’ve designed it for real life, where stuff happens and people’s circumstances and needs change. We’re using it already for our own clients.

Sure, the pensions landscape has shifted, but we're offering you a simple way to navigate it.


To find out more about our Retirement Income Service, and how it would help you and your clients, call us on 020 7760 8829.

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The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.

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