Kirsty Ross: This is about helping people make confident decisions in later life, with specialist expertise available at every stage of their retirement journey
People’s Partnership has launched an annuity guidance service for members of the People’s Pension master trust.
The service – provided by Retirement Line – will offer free-to-use enhanced support to People's Pension members over 55 years old who want to consider the purchase of a guaranteed income for life through an annuity.
The launch is the latest in a line of enhancements to the master trust's retirement offering to members, which included the launch of a regular income planning tool in December.
People's Pension said a growing number of people are now considering annuities as a way to secure a dependable income in later life.
Through its decade-long New Choices, Big Decisions research, People's Pension has identified a need to better support members with the complex decisions involved in choosing their retirement options, including annuities.
By having access to Retirement Line's services, People's Pension said its members will benefit from a single, dedicated point of contact to help them navigate their retirement journey – from initial guidance through to finalising their annuity.
People's Pension said this guidance service includes support to members in completing health questionnaires, helping ensure they are considered for the full range of enhanced or impaired rates offered by providers.
It said members will also have access to interactive online tools and there would be tailored support for vulnerable customers.
People's Partnership proposition director Kirsty Ross said: "This announcement further demonstrates our commitment to supporting members as they approach retirement, by providing clarity at a time when their choices matter most.
"By offering our members access to Retirement Line, People's Pension is ensuring they receive clear guidance and personalised support. This is about helping people make confident decisions in later life, with specialist expertise available at every stage of their retirement journey."
Chief commercial officer David Meliveo commented: "Employers want to know their workforce is supported, not just while they're saving, but when they start making the big decisions that shape life after work. Helping people secure reliable income in retirement is a vital part of that duty of care.
"This new service gives employers confidence that their staff can access specialist, impartial guidance when it matters most. It's a meaningful step toward improving long-term financial security and ensuring members feel fully supported as they plan for the years ahead.
"This is a great example of how a scheme our size and scale can pass on services to vast numbers of people without it costing them in the long term. While we have millions of members with all sorts of financial backgrounds and needs, this service will really help many of our members who cannot afford personal financial advice."
Retirement Line chief compliance officer Mark Ormston added: "With healthy and growing competition across the annuity market, we look forward to supporting even more consumers in maximising their annuity income by comparing quotes from all the annuity providers on the open market.
"We offer both lifetime and fixed term annuity products on our whole of open market panel, with both products continuing to see increasing demand. In 2025, two-thirds of our customers opted for a lifetime annuity, with 80% of these annuities being underwritten based on health and/or lifestyle factors. On average, these consumers received 12% higher annual income compared to the highest standard annuity offered on the open market.
"Whether savers are considering an annuity with all or part of their pension savings, I am confident that People's Pension members will value the clarity, reassurance and support we provide as they look to make the most of their pension savings."
