Retirement Line announce latest industry partnerships

02 January 2025

Retirement Line has recently announced partnerships with two leading companies in the UK pensions industry. Both partnerships are designed to help more consumers check on the best income available from a pension annuity.

WPS Advisory

Retirement Line’s partnership with leading financial advice firm WPS Advisory is designed to provide customers with access to tailored guidance to help with their retirement decision-making, including purchasing an annuity. 

WPS Advisory specialise in supporting people who are members of workplace pension schemes, who typically have the option of setting up an annuity with some or all of their pension savings. 

Should a customer who is talking to Retirement Line decide they need advice from the WPS Advisory team at any time, a seamless switch to that service can be arranged.

Simon Chrystal, CEO at WPS Advisory, said: “We are excited to be offering this new option to help people to make the most of their retirement savings. Our whole approach behind developing this new service is to put the Consumer Duty into practice, putting better customer outcomes at the heart of what we are doing.”

Consumer Duty is a set of rules from the Financial Conduct Authority that require financial service firms to provide a high standard of care to their customers. 

Retirement Line’s Mark Ormston said: “Deciding what to do with their money at retirement is a minefield for many consumers. In recent years it is beginning to get greater attention from regulators and policymakers alike, but we need to act now to help people who are accessing their money.”

Pension SuperHaven

Retirement Line has also joined forces with Pension SuperHaven (PSH), a pension scheme that lets customers convert their assets into a higher income than an annuity might deliver. Under the new arrangement, savers will also have an opportunity to explore annuity rates available from providers via Retirement Line’s annuity service.

A ’best price promise’ is in place, in which customers will know that they have obtained the best retirement income from either PSH or Retirement Line’s annuity service. A comparison tool is available to customers to support this.

Pension SuperHaven co-founder Edi Truell says: “We are delighted to partner with a leading name in the industry such as Retirement Line in what is another key and exciting moment for the development of PSH.”

Retirement Line’s Mark Ormston says: “We have co-created and perfected software that gives savers an instant comparison reading between PSH and the best annuity available on the open market. This innovation enables savers to quickly compare the offerings, providing transparency and peace of mind.”