What is Destination Retirement?

Destination Retirement is a financial planning and advice service. It's designed to help you feel confident and liberated to make some of the most important decisions of your life, and to support you throughout your life after work. If you are aged 55-73 and have any pensions, savings or investments of at least £10,000, Destination Retirement could be for you.

How does it work?

The service is broken down into five stages. You can dip in and out, and move forward at your own pace.

  • Think - We’ll start by taking you through the most important things to think about when planning for your life after work. This will help you on your journey through the service.
  • Plan - Next, we'll produce a free personal retirement plan. This will paint a picture of what your life after work could look like, and will show you how far your money may go. You can adjust the information you put in to see what impact it will have on your plan. You can do this as often as you like - free of charge.
  • Find - Once you've got a plan you're happy with, we can provide expert financial advice on how to put it into action. We'll recommend the most suitable financial products, making sure you don't pay too much tax, lose valuable benefits, or pay unnecessary fees and charges.
  • Buy - If you're happy with our recommendation, we'll take care of all the hard work needed to set up your plan. We'll take care of all the paperwork, and will deal with the product providers on your behalf. At this stage, there will be fees to pay for the initial advice and set-up of your plan.
  • Review - Destination Retirement is designed to support you throughout your life after work. It'll continually monitor things, making sure your plan is performing as expected. We'll automatically alert you about any changes, prompting you to make any adjustments.

What if I get stuck or have a question?

If you need help at any point, our team of friendly experts will be on hand to help provide assistance. You can contact them by phone, email or webchat. Whatever the query, they'll be happy to help.

What fees will I pay?

The information and guidance we provide, including your personal retirement plan, are totally free of charge. You'll be under no obligation to proceed.

If you do decide to put your plan into action, there will be fees to pay for the initial advice and set-up of your plan, and for ongoing support and advice. Please rest assured that the initial cost will be lower than the average for traditional financial advice.

The exact fees you pay will depend on the make-up of your plan. We'll make these fees crystal clear when you get to the 'Buy' stage, then you can decide whether you want to proceed or not.

How do you minimise the amount of tax I'll pay?

Destination Retirement is powered by a sophisticated algorithm which performs millions of calculations to make the best possible use of your tax-free cash and personal allowances.

If you've set up your plan with your spouse or partner, it'll look at each of your personal tax allowances, finding the best order to use each of your pensions, savings and investments.

And if there are any changes to the tax system, Destination Retirement will automatically adapt to take these into account.

What if I want to change my plan after it's been set up?

We understand that your circumstances will change in the future, so it's important to have a plan that's flexible enough to adapt.

Destination Retirement makes it easy to make changes to your spending plans at any time. You can do this as much as you like - without committing to anything - until you've got a new plan you're happy with. When you're ready to put the changes into action, we can provide updated advice setting out the most suitable mix of financial products to deliver your new retirement plan.

What protection do I have?

The financial advice you receive at the Find stage is regulated by the Financial Conduct Authority. You are also protected by the Financial Services Compensation Scheme (individual limits apply).