TOMAS improves annuity offering 'Assist'

clock

The Open Market Annuity Service (TOMAS) has upgraded its online annuity ‘assistant' to improve its service for retirees with small pots.

The company say they have introduced an integrated underwriting module to collect health and lifestyle information, alongside improved education tools and system functionality on the site. Graeme Riddoch, sales and marketing director of Tomas, said it "addresses criticisms that far too many retirees are choosing the default option offered by their pension companies instead of shopping around for the best income plan." In addition, users wary of undergoing the whole process online, can now opt for personal contact or a paper based approach. Riddoch said that the system complements t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income

M&G's opens fixed term annuity to UK retail market after soft launch

M&G's opens fixed term annuity to UK retail market after soft launch

Prudential Guaranteed Income Plan backed by £128bn With-Profits fund

Jenna Brown
clock 22 July 2025 • 1 min read
Targeted support: FCA rules out specific annuity suggestions

Targeted support: FCA rules out specific annuity suggestions

Firms must signpost consumers to MoneyHelper’s annuities comparison tool

Jenna Brown
clock 30 June 2025 • 3 min read
How annuity underwriting needs to change to meet Consumer Duty

How annuity underwriting needs to change to meet Consumer Duty

'This is an industry systematically delivering poor outcomes'

Andrew Gething
clock 24 June 2025 • 4 min read