Guaranteed Income
Secure Lifetime Income
One of the biggest challenges in retirement planning is balancing income security with flexibility.
That’s why we’ve integrated Just’s Secure Lifetime Income (SLI) solution into our platform. At its core, it works the same as a traditional annuity – in exchange for a proportion of your client’s pension, they’ll receive a guaranteed income for life. But instead of being paid into the client’s bank account, the gross income is paid into their drawdown account. It can then be taken as income or reinvested depending on the client’s needs.
How does it work?
SLI adds an element of guaranteed income alongside your client’s investment portfolio to help create a more sustainable and flexible retirement plan. The income from SLI is paid into the cash facility of your client’s SIPP drawdown wrapper. You then have control over what to do with the income. You can either withdraw it or reinvest into other assets that are then held in the SIPP.
The level of income paid from the drawdown wrapper can be more or less than the value of SLI payments. Of course, circumstances and retirement plans can change at any time. You can purchase another SLI if your client’s desire for growth declines and their need for income increases.
Why advisers use Secure Lifetime Income for retirement planning
Adapting to the changing inheritance tax landscape
With inheritance tax reforms expected from April 2027, many advisers are revisiting traditional retirement planning strategies. Unused pension assets are expected to form part of a client’s taxable estate, potentially reducing the value ultimately passed on to beneficiaries.
For years, many clients have followed a ‘pension last’ approach, preserving pension assets while drawing income from other investments. As the rules change, retirement plans may need to place greater emphasis on using pension wealth for its original purpose: generating income in retirement.
This is where Just’s Secure Lifetime Income (SLI) can play an important role. Combining SLI with drawdown can help firms:
- Generate sustainable retirement income from pension assets
- Potentially increase withdrawal rates without increasing investment risk
- Build retirement plans that can adapt as tax rules and client circumstances evolve
- Keep assets on platform, under advice and fully integrated with the wider retirement strategy
Get a quote for your client
You can get an indicative quote through the Wealthtime platform.
From the platform homepage, click on ‘Research Tools’, then ‘Guaranteed Income Generic Quote’. If you’re happy with what you see, you can then request a personalised quote. You’ll need to complete a health questionnaire for your client to see if they qualify for an enhanced rate. The questionnaire portal is provided and operated by Spire Platform Solutions.
Just like an annuity, how much income your client will receive is dictated by their health and lifestyle, where they live, what additional terms they need, how much of their pension they use and the rates at the time. The quote will be valid for 35 days.
If you and your client are happy with the quote, you can apply online through the Wealthtime platform.
Everything advisers need for retirement planning
Our award-winning retirement proposition is designed to support modern retirement planning and Centralised Retirement Propositions (CRPs) combining drawdown, guaranteed income solutions, extensive investment choice and practical adviser tools – all on one platform.
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Contact our team today
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0345 680 8000
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03330 417 010