Matching money with what matters
Clients' needs change throughout retirement, from covering the essentials (Living), to funding the experiences that make retirement enjoyable (Lifestyle), supporting aspirational spending (Luxury), and leaving something behind for loved ones (Legacy).
Each need as highlighted by the 4 L framework requires a different balance of certainty, flexibility and risk. So rather than treating retirement as one pot of money with one strategy, advisers can help clients give different money different jobs
Our retirement solutions and propositions can help you build more effective retirement plans that support the right outcomes for your clients. And when plans change our digitally enabled pension wrapper allows you to adjust them quickly and easily keeping your clients on track to achieve the outcomes they want.
- Living
- Lifestyle
- Luxury
- Legacy
Dependable income for essential spending, whatever markets are doing.
The Prudential Guaranteed Income Plan can provide a guaranteed income, lump sum or a combination of both, helping clients meet core expenditure needs with greater certainty. It can also be integrated with PruFund as part of a phased retirement strategy.
A smoother investment journey to support day-to-day retirement spending.
The PruFund range of funds offers a smoothed investment experience across a range of risk profiles, from cautious to adventurous. Combined with the Prudential Retirement Account's flexible drawdown capabilities, it can help clients access income while reducing the impact of short-term market volatility on spending decisions.
Growth potential to fund experiences, ambitions and discretionary goals.
The Prudential Retirement Account provides flexible drawdown, phased income options and access to a wide range of investments, including PruFund, managed portfolio solutions and risk-managed funds. The Prudential ISA can also provide additional tax-efficient investment opportunities to support longer-term growth objectives. While the Prudential Trustee Investment Plan provides investment options for SSAS and SIPP schemes.
Helping clients plan what they leave behind.
Legacy planning supported through a combination of onshore and offshore bonds and trust-based solutions. Both the Prudential Investment Plan (onshore) and International Portfolio Bond (offshore) offer a large range of accessible investments, including PruFund. These are accompanied by a full range of trusts for those clients who are looking for a trust solution. Advisers can also use our Pension Legacy Modelling Tool to support discussions around intergenerational wealth transfer and inheritance planning.
Navigating retirement risks
A successful retirement plan also needs to navigate the traditional risks clients face, while helping them achieve what matters to them throughout retirement. The 4 Ls of retirement income provide a framework for thinking about those changing needs, from essential living costs and lifestyle ambitions to unexpected expenses and the legacy clients want to leave behind.
We can help you explore how you support clients through the traditional risks of retirement, with practical insights and resources available.
These traditional risks are an important part of retirement planning. But even with the right financial plan in place, there’s another, less visible risk to consider: behavioural risk.
After a lifetime of saving, the shift to spending can be difficult. Clients may have the financial means to enjoy the retirement they planned for, but their attitudes and behaviours around money can affect whether they feel able to do so.
Further support for you:
Other helpful resources
Designed for changing client needs
Combine our solutions to create personalised retirement journeys that deliver more.
PruFund and ISA investment options
The value of an investment can go down as well as up and your client may not get back what they paid in.
