Just Retirement joins forces with PICA

Equity release provider Just Retirement has joined the management board of the Pension Income Choice Association (PICA).

Stephen Lowe, director of Just Retirement, will sit on PICA’s management board alongside representatives from LV=, MGM Advantage, Partnership, Fidelity, Living Time, Hargreaves Lansdown and Bluefin Group.

PICA is a membership-funded group set up in July 2009, representing product providers, independent financial advisors (IFAs) and employee benefit consultants (EBCs) in the annuities and retirement market.

The association is lobbying government to make shopping around the default option for investors as it claims many pensioners are currently left with less retirement income than they are entitled to.

Just Retirement agrees with PICA that the default option should be for everyone to review their options at retirement and actively shop around.

Mr Lowe said: “Just Retirement is pleased to join the board of PICA and provide its support to improving the retirement process for customers.

“Choosing the right retirement income solution is one of the most important financial decisions retirees face.

“We are committed to ensuring all customers get the opportunity to shop around to help improve their chances of selecting the best retirement income solution to meet their needs.”