Royal London has launched a monetary wellbeing service which it says will assist deal with the recommendation hole by serving to clients to be extra monetary resilient.
The service is accessible to over 1.5m new and current office pension clients.
It presents ongoing monetary assist and steering, serving to people to enhance their monetary information, confidence and wellbeing.
Customers may also take a ‘monetary well being verify’ which can assist construct an entire image of their monetary wellbeing.
The service may also assist clients save for sudden emergencies or construct up a financial savings pot.
It presents quite a lot of sources on a spread of pension points and different monetary matters by way of guides, infographics, movies and instruments.
One instrument, based mostly on the Pension and Lifetime Financial savings Affiliation’s Retirement Dwelling Requirements, allows pension savers to discover the form of way of life they want in retirement and what it may cost a little.
Sarah Pennells, client monetary specialist at Royal London, stated: “The recommendation hole is undoubtedly one of many greatest points we face as a nation in terms of folks getting their funds so as. That is notably true over the previous couple of years when so many have confronted troublesome challenges, together with Covid and the rise in the price of residing.
“There’s a rising duty for everybody to avoid wasting for later life however with some folks unable to entry recommendation, taking management of your funds can appear daunting, particularly in the event you don’t know the place to begin. Our monetary wellbeing service is designed to assist our office pension clients to develop into more cash assured. It’s a key a part of our ambition to assist clients to be extra financially resilient and we hope it should give them each the boldness and the know-how to make well-informed monetary selections.”
The service is free for all new and current clients.