adapt
We recognise that your employees are unique in terms of when they want to retire, what their income requirements are likely to be and how they use any tax-free allowances. adapt is the fresh new solution that recognises your employees’ individuality.
Introducing adapt - a breath of fresh air
You can now offer your employees a new and innovative retirement solution. Members won’t have to take all of their tax-free allowance as a one-off lump sum and they don't have to buy an annuity at the point of retirement.
adapt gives your employees the flexibility to vary their retirement income to meet their changing needs whilst building in some important risk management techniques. These are designed to avoid some of the pitfalls associated with other flexible retirement options.
In addition, it allows your employees to include some or all of their tax-free allowance as part of their ongoing income, offering the potential for higher net income and better protection for their dependants if they die first.
We recognise that your employees are unique in terms of when they want to retire, what their income requirements are likely to be and how they use any tax-free allowances. adapt is the fresh new solution that recognises your employees’ individuality.
A clear difference
With adapt, your members will be able to:
- stop, start, increase or reduce cash withdrawals from their pension account
- spread their tax-free allowance over time up until age 75
- continue to invest their pension fund in tax favoured investments after they retire
- pass on remaining funds to their beneficiaries when they die
- choose when to buy an annuity
Members can transfer their pension account to another pension provider at any point. Please note that the adapt facility does not provide a guaranteed income in the same way that an annuity does.