Delta and Guiide Team Up To Automate Pension Drawdown

Retirement planning site Guiide and administration system provider Delta FS have joined forces to create a modelling, tracking and administration solution that enables pension savers to create an automated drawdown plan and have it paid at the touch of a button.

The service means providers, master trusts and occupational schemes will be able to help members fully enjoy their pension freedoms without compromise, or complexity. Key benefits include:

  • Simple: Customers create a simple, holistic, sustainable lifetime income plan

  • Tax-efficient: The correct amount of pension pot is crystallised each year to keep the total income needed as tax-efficient as possible.

  • Secure: The plan provides savers with peace of mind that payments are designed to be sustainable over their expected lifetime.

  • Trackable: One-click tracking lets savers see if their long-term plan veers off course and can adjust it early.

  • Flexible: In addition to this regular income, customers can also request ad hoc payments from their pension pots – as long as they feel comfortable that their plan will remain on track after the extra payment.

Guiide will initially launch the proposition through its direct-to-consumer site ( Guiide and Delta FS are also working with three forward-thinking asset managers and providers looking to be the first to adopt the technology as a part of their pension offerings, complementing other innovations in their products.

Kevin Hollister, Director of Guiide said: “Feedback from Guiide’s users has shown us that a proportion of pension savers are desperate for a straightforward, automated drawdown approach. Innovation around decumulation - when savers have the most difficult decisions to make – has been almost non-existent since the pension freedoms were introduced. We believe this will be a really desirable service.”

“This is a fantastic opportunity for us to bring together our years of work on trying to solve the decumulation problem. We are delighted that an exceptional administration system provider like Delta has seen the opportunity possible in joining forces. Our joint solution to revolutionise drawdown for pension savers is truly exciting."

Iain Tait, Delta CIO said: “Guiide’s modelling and tracking tools are exactly what we think the drawdown market is lacking. Delta’s API first approach to integrating its market-leading SIPP~Pro and SSAS~Pro products with innovative and digital-centric firms like Guiide is central to our rationale of enabling our Platinum~Pro administration technology platform to integrate with tools and providers like this.”