Tilney Bestinvest in a tie-up with Just Retirement Solutions has come up with a new online and telephone-based at-retirement service, which includes an online annuity planner tool.
The free service includes an online annuity planner tool which will enable savers compare and apply for an annuity on a non-advised basis.
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The tool compares live quotes on standard and enhanced annuities among a panel of 10 providers, including Aviva, Canada Life, Friends Life, Hodge Lifetime, Just Retirement, LV, MGM Advantage, Prudential, Scottish Widows and Standard Life.
The tool can be used for quotes up to £500,000, and for quotes involving larger purchases users will be asked to consult an in-house adviser.
The service will include educational content and guidance to explain the new pension rules, as well as will provide savers the option of speaking to a financial planner for personalised advice through its in-house advice unit.
In addition, Tilney Bestinvest has changed the charging structure for its execution-only Best SIPP account.
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By GlobalDataAs part of these changes, the company is removing its £100 annual charge for income payments, cutting down its initial calculation fee from £100 to £90, and removing drawdown valuation fees which was earlier charged at £3 per line of stock.
The account continues to have a fee of 0.3% per annum for balances up to £250,000, 0.2% for balances between £250,000 and £1m, and no charge for balances above £1m.
