Key Retirement has launched a free personalised online services outlining all the new retirement options.

Its Retirement Options service enables savers to understand their options so that they are better placed for the next stage of engagement with a Key retirement planner.

The service launched in February but the report was initially only available through speaking to a specialist. Key has now improved the service after testing so that customers can save time by filling in details online and then have access to the report themselves. They can then arrange a convenient time to discuss in more detail after analysing the data.

It is particularly aimed at people who, in the lead up to retirement, struggle to find the time to research their options but increasingly need support following the launch of pension freedoms.

Key says the report is not positioned to detract from Pension Wise but rather to build on the generics of the new Government guidance.

Dean Mirfin, technical director at Key Retirement, said: “The early indication from the launch of pension freedoms is that the pendulum is swinging towards advice and guidance, and our Retirement Options service is aimed at supporting that through enhancing consumer knowledge.

“The expansion of options and increased flexibility means retirement savers are increasingly on their own when it comes to making choices and need more support.

“The Retirement Options Report is very much the start of the journey. Customers can then discuss their options in greater detail with a Retirement Options specialist at Key which ultimately can lead to financial advice if required.”