Workplace Retirement

Retirement is personal. And a workplace retirement provider must have the flexibility to meet the needs of employees. At HL, we offer all the main retirement options under one roof, to help ensure the best possible outcomes.

ANNUITY SERVICE

Our service makes it easy to find the best annuity rates. It’s a whole of market service, where employees can get quotes online or over the phone in minutes. They simply provide health and lifestyle details and get live quotes at no charge. Even providing basic information like height, weight and alcohol consumption can mean a better annuity rate for your employees.

DRAWDOWN

HL’s drawdown service is available with or without advice, for any size pension. We ensure employees are aware of the risks associated with drawdown before they apply. We do this by providing them with illustrations, asking them risk questions and, most importantly, being available to answer their questions and challenge any preconceptions.

LUMP SUMS (UFPLS)

Employees can make lump sum withdrawals from their pension without choosing an annuity or drawdown. In fact, they can withdraw their entire pension as a single lump sum if they want to. This option is known as taking an Uncrystallised Funds Pension Lump Sum (UFPLS).

MIX AND MATCH

Employees don’t have to choose just one option. They could select a mixture to match their needs. Having some secure income from an annuity could cover essential spending costs, whilst the flexibility of drawdown could be used for the retirement nice-to-haves.

From shopping around for the best annuity to a low-cost drawdown service, we've got it covered.

As one of the largest independent annuity brokers in the UK, we automatically shop around on behalf of your members. Full market coverage – We offer an independent and whole-of-market service, including specialist enhanced annuity providers Competitive annuity rates – We get some of the best annuity rates in the UK Clear communications – We make choices simple for your employees Online access – Employees can view and adjust their portfolio at the touch of a button, on their computer or smartphone

SPOTLIGHT ON:

Annuity

An annuity is a retirement that lets you exchange some or all of your pension for a regular income guaranteed for life. You can typically choose to receive up to 25% as a tax-free cash lump sum, using the remainder to purchase the annuity. The income from the annuity is taxed as earned income.

Drawdown

Pension drawdown is one of the most flexible ways for your employees to access their pension. Drawdown allows employees to take up to 25% as a tax-free cash lump sum and keep the rest invested for later.

Lump sums (UFPLS)

Taking a lump sum is a flexible way for an individual to take money from their pension. It allows them to withdraw their entire pension in one go, or a bit at a time. Each time an employee takes a lump sum, usually 25% of that withdrawal will be tax free. The rest would be taxed as income.

We make it easy

From online guides, news and expert views to interactive calculators, we help your employees make the right choice at retirement. Our focus has always been to combine financial education with technology. Not only does this make it even easier for employees to engage with their pension, it also gives them the confidence to make the decisions that could affect them for the rest of their lives. For impartial guidance, you could also consider Pension Wise, a free government service for people aged 50 or over with a UK personal or workplace pension. They provide information on different pension types, how to access your pension savings and the tax implications of each option.

TOOLS TO HELP MEMBERS

  • Interactive retirement planner
  • Pension income tax calculator
  • Annuity delay calculator
  • Life expectancy projector tool
  • Income budgeting tool
  • Annuity engine- live, online
  • ‘How to’ videos & case studies
  • Mobile app
  • Online guides
  • Investment ideas
  • Investment news & features
  • Webinars