Retiready is a digital service from Aegon which helps people understand how on track they are for the retirement income they would like. Based on current savings and financial behaviours, Retiready gives users a score out of 100. Since launch, 25,000 people have generated a Retiready score and the service offers coaching and support tools for people looking to get their retirement planning on track. It offers a simple pension and ISA proposition for non-advised customers.
The tool sits within Barclays’ MoneyWorks platform which helps employees build their financial awareness to be better informed when taking long term financial decisions. The portal houses a vast range of articles, tools and videos about all aspects of financial management, and draws on resources from The Money Advice Service, Life Academy, Ageing Works, an independent financial journalist, as well as Barclays.
Katharine Photiou, Head of Workplace Savings at Barclays Corporate & Employer Solutions, said:
“The new service delivered in partnership with Aegon brings together the best of Barclays and the best of the market to offer a complete package of financial support for the non-advised population. We know from our independent research into the UK workplace that up to 4% of payroll can be lost through poor financial well-being at work, and following reforms in April which will bring more choice to members’ decision-making, this service is designed to help encourage financial confidence through customised support that fits with an employee’s lifestyle.”
Angela Seymour-Jackson, Managing Director for Workplace at Aegon, added:
“Barclays has become one of the leading corporate pension consultants and their success is based on their ability to deliver services like MoneyWorks which engages employees with their pension. We believe the addition of Retiready to the service will add another valuable resource as it helps people to get a clear picture of how on track they are for the retirement income they would like. We are working closely with Barclays Corporate and Employer Solutions to continue improving people’s workplace pension experience through our partnership.”
