Friends Life and Foster Denovo have partnered to provide employees with advice relating to the pension freedoms which are due to come into effect on 6 April.
Through the arrangement, employees who contact Friends Life about their new options with retirement savings will be referred to Foster Denovo if they request or require financial advice, unless they have an existing financial adviser.
Andy Curran, UK chief executive of Friends Life, said: “The introduction of the new pension freedoms give employees who do not have an adviser more choice, although, these employees may need regulated advice to ensure they are making the most appropriate decisions regarding their retirement savings and options.
“Our new referral service with Foster Denovo enables us to offer customers who do not have an adviser, access to robust financial advice to support them with the important decisions they need to make about their retirement income.”
