By Simon Falush An interactive website for IFAs looking to find out more about income drawdow...
By Simon Falush
An interactive website for IFAs looking to find out more about income drawdown is being offered by Winterthur Life.
The site includes a range of tools aimed at helping intermediaries understand and explain the complex area of the market.
While concentrating on drawdown schemes and the variety of choices available within that product structure, the site also explores wider pensions issues such as basic state pensions, national insurance earnings limits and pension scheme earnings caps.
The site hosts an overview of drawdown schemes and options for retirement.
This explains the campaign being run to get the Government to remove compulsion to buy annuities at the age of 75. Content on the website examines the recent legislative changes introducing phased drawdown and the ability of investors to transfer plans from one provider to another.
It also highlights future issues that will affect drawdown such as regulatory changes concerning whether further exams for intermediaries will be necessary for the selling of these policies.
Paul Vousden, corporate communications manager at Winterthur Life, said: "There are lots of tools on the website for IFAs to guide their customers.
"The site allows you to choose products that match the criteria of the client's needs. It offers advice about tax implications and gives guidelines on regulatory requirements, which is useful to advisers."
Advisers will be able to use personal pension flow charts that invite pension purchasers to enter the details of their predicted age of retirement, sex and a predicted gilt index yield, so as to assess the maximum annual income from a pension of a given size.
The site, which was launched earlier this month, includes a fund selection tool, a pension options planner and a drawdown calculator.
The drawdown calculator allows advisers to customise a 'reasons why' letter to clients by going through a series of 15 questions which determine whether drawdown or an annuity would be most appropriate.
The fund selection tool allows IFAs to look in detail at clients' portfolios and can display this on an asset allocation basis.
Intermediaries can also select funds by sorting them on factors like volatility, performance, quartile rankings and Micropal ratings.
Sales aids are available on the site, which IFAs can use to try to target different client more groups effectively.
There is also a reference library containing press releases from relevant authorities such as the DSS and the Inland Revenue.
Prices and performance figures on a range of pension funds, both Winterthur's own products and its range of externally managed vehicles, can be accessed along with fund fact sheets, which include information such as top 10 holdings and geographical breakdowns of the various portfolios.
In the technical information section of the site there are tax tables, information on the most recent Budget and retail index prices as well as details on earnings and contribution limits.
Winterthur's income drawdown website can be found at www.simplydrawdown.co.uk.
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