New legislation means that people can now take money from their pension pots in a variety of ways – it’s been a good while since an annuity was the first (and usually only) port-of-call.
But more choice means more complexity and that can be a daunting prospect when you’re trying to understand how best to access your pension at retirement.
LV= recognised this. So, they asked us for ideas on how best to calculate and display a customer’s pension income options quickly and simply.
A tricky problem deserves a simple solution – and that’s what we gave LV=.
We created an innovative income options comparison tool that visualised a series of scenarios based around the projected value of the user’s pension pot at retirement – each one supported by an animated story.
The user could then download a ‘big picture guide’ to retirement income that contained a series of scenarios tailored to their personal circumstances.
We even included the pros and cons of all the options available, so the customer had all the information needed to make an informed decision.
