A Peterborough company is ending the year on a high after learning it has become the UK’s top performing business in the pensions annuity sector.
Retirement Line leapfrogged its closest competitor to take the number one spot, based on the volume of pension funds it has turned into annuity income for its clients.
An annuity converts a person’s pension pot into a guaranteed regular income for life. Established in 2009, Retirement Line provides an online and telephone-based annuity intermediary service.
The company also reports year-on-year growth since 2015, with the number of completed annuity applications soaring by almost 200%.
To continue to meet ongoing demand for its services, in 2018 the company grew its team of client-facing Annuity Specialists to 18, a 20% increase for the year.
CEO David Slater says: “We are all so proud to have grown from second in our sector to number one by some margin. Our success is largely driven by our ability to frequently generate more retirement income for our clients than can be achieved elsewhere.
“This is often achieved by securing enhanced annuities, which provide more income as a result of an individual’s adverse health and lifestyle profile. Our Annuity Specialists undergo regular training in medical underwriting, enabling them to ask clients detailed questions that unlock enhanced annuity rates.
“It is heartening to see that the attention we pay to delivering outstanding outcomes is appreciated by our clients. This is reflected in the widespread praise we receive from our clients. We have an ‘excellent’ score on Trustpilot of 9.9 out of ten, based on more than 850 reviews.”
Retirement Line also continued its role as an influencer in the pensions industry in 2018. This included contributing an article to the 2018-19 Parliamentary Review, a series of publications featuring organisations who are experts and have become ‘outstanding experts in their fields’.
In June, the company participated in a consultation on retirement outcomes led by the Financial Conduct Authority. The company is also part of an industry steering group influencing the direction of the government’s Pensions Dashboards project, which will provide consumers with personalised online information about their pensions savings.
The year also saw respected financial services company Wesleyan choose to refer customers looking for an annuity to Retirement Line, commenting that its customers were ‘in safe hands’ with the company.
For more information about Retirement Line, please visit: retirementline.co.uk.