21st April 2016

Bringing Guidance Alive – Welcome to The Pensions Portal

In order to help product providers communicate with the tens of thousands of customers impacted by Pension Freedoms The Pensions Portal will shortly be launching their first two services which they believe to be game changers in consumer communication. The Pension Freedoms Portal and FCA Risk Warnings Portal have been developed to offer pension product providers a radical new way to bring greater trust and engagement into their customers’ journeys towards better pension decumulation decisions and a risk management process and further revenue opportunities for themselves.

The Pension Freedoms Portal allows providers to offer their own dedicated and impartial guidance portal. It comprises a series of graduated programmes, animations, comparisons and case studies delivered through an intelligent media platform which provides invaluable analytics to the product providers and navigational support to its customers. The introductory programme focuses on why their customers should engage – the time required deciding how best to spend their pension pot being dwarfed by the tens of thousands of hours they spent at working accruing it!

The FCA Risk Warning Portal can give providers an alternative, effective and efficient way of delivering their ‘Second Line of Defence’. It is a suite of animations which bring to life and make real the considerations which customers must engage with ahead of, what can often be irreversible decumulation decisions. The service can be employed as part of a pension provider’s process for compliantly fulfilling customer retirement transactions saving time, money and reducing risk through the reporting and analytics the site provides.

Andy Kirby, the Pensions Portal MD comments, “I am passionate about the need for the industry to develop more engaging ways of helping customers make decisions and to achieve better outcomes. Our Pension Freedoms Portal allows product providers to deliver impartial, PMI accredited and engaging content to their pension customers and, crucially, allows the provider to follow and to possibly even incentivise their customer’s journey. Their wake up process could be radically improved through partnering with our Pension Freedoms Portal with better outcomes for customers and potential cost savings and compliance efficiencies for providers. We believe it offers providers a new way of engaging with their customers and can help with retention of existing business and create new sales opportunities”.

The Pensions Portal has engaged with both the FCA and Treasury during the development of its services and has contributed to both the FAMR review and the Treasury consultation regarding public provision of guidance and advice. The portals have been designed to integrate easily and to compliment and bring greater efficiencies to providers’ existing procedures.

The Pensions Portal plan to add further services shortly, including a portal for pension scheme trustees and their members.

Pension Reforms, Pensions