It provides a more detailed overview of the key issues for advisers and comes with representative example model consumer profiles.

The guide helps advisers assess their clients’ retirement income options and addresses a number of the key planning issues, while also reviewing the retirement options landscape. The consumer profiles visualise how these changes could impact people’s retirement income.

To help advisers communicate the options to their clients and to help them understand what they should consider, such as understanding what income they will need, Defaqto has also launched a guide aimed at consumers.

Richard Hulbert, insight analyst for wealth at Defaqto, said: “The pension reforms 2014/15 are now influencing all retirement planning. This updated guide brings many of the key issues and points of consideration for advisers together in a unique publication.

“The consumer profiles are representative of real-life situations retirees may find themselves in and are designed to illustrate possible solutions and how financial advice can make a significant difference.”

The guides (and model consumer profiles) can be downloaded, free of charge, on the Defaqto website:

• Looking forward to retirement: Guide for advisers – defaqto.com/advisers/resources/publications-list/looking-forward-to-retirement-guide-for-advisers
• Looking forward to retirement: Guide for retirees – https://defaqto.com/looking-forward-to-retirement-guide-for-retirees

In addition, Defaqto will meet advisers around the country in April to discuss retirement income planning at its five regional roadshows.