UK fintech rolls out retirement income platform

Socius Technologies has launched a new retirement income platform targeted at insurance and pension providers, wealth managers, and advisers who service the needs

Of Individuals Approaching And In Retirement

tailored to each individual’s unique circumstances’ in what represents a significant shift in terms of the options offered to individuals to provide an income in retirement’.

The platform has been designed in response to changes in the pension landscape in the UK, across Europe, the USA and Australia which give individuals more choices in retirement.

“The platform is agnostic as to what the underlying investment theme is – the key development here is the individualisation,” David Macdonald (pictured), CEO of Socius Technologies Group Limited, told SRP.

restricting other more structured investments to sit within the portfolios.”

According to Macdonald, the personalised ‘strategy’ that the platform facilitates takes into account the individual’s personal circumstances - size of pension pot, age, attitude to risk, critical income needs etc. - to determine, for example, the mix of drawdown income versus annuity income.

“The key shift here is moving away from large ‘cohorts’ of retirees all being treated the same,” he said.

SPERO, an acronym for Systematic Platform for Enhanced Retirement Outcomes, will offer dynamic retirement income solutions ‘that are fully

“The underlying investments will likely remain as funds-based solutions (equity and bonds) although there is nothing

The platform is aimed at filling a gap around retirement products or services and help guide retirees and their advisers to dynamically combine income drawdown and annuities to meet their retirement income goals based on their current situation.