Embark launches Investment Pathways tool

Retirement solutions and platform provider Embark has launched an Investment Pathways tool to help non-advised customers move their pensions into income drawdown. The provider has also launched an educational website to provide information for investors about the choices they face as they approach retirement, highlighting some of the key considerations and providing useful tools to support their decision-making. The website links to an Investment Pathways tool developed in collaboration with actuarial consulting firm Hymans Robertson. The tool allows investors to choose from four investment approaches to fund their retirement: leaving funds invested, purchasing an annuity, drawing down funds as long-term (longer than 5 years) income, or withdrawing all funds in the short-term (less than 5 years). Embark has appointed BlackRock to provide the pathways funds. Dave Lowe, head of propositions and technical at Embark Group, said: “Although we believe that investors should take financial advice when making decisions about their retirement, it is important that we support our existing customers who choose not to do so for whatever reason, and we are delighted to be working with BlackRock to deliver a cost-effective solution in support of that goal.” The first Investment Pathways launched this week following an FCA Retirement Outcomes initiative making them a regulatory requirement. They were designed to help non-advised pension savers leaving their money in cash. The reforms were due to be implemented last year but were delayed due to the Coronavirus pandemic. Nearly 1 in 3 financial advisers believe that the FCA’s new ‘Investment Pathways’ pension reforms (which came into effect yesterday) will cut demand for retirement advice although some expect a boost to advice demand, according to adviser research for Aegon.

Embark launches Investment Pathways tool

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