Phoenix Group Holdings plc (1BF)

Overview

Phoenix Group Holdings plc is entrenched in the long-term savings and retirement industry within Europe, demonstrating its prowess through a diversified portfolio. The company's operational structure is distinctly organized into five segments, including Retirement Solutions, Pensions & Savings, With-Profits, SunLife & Protection, and Europe & Other. Offering a broad spectrum of savings and retirement income products, Phoenix Group is designed to cater to a wide range of customer needs throughout different phases of the savings life cycle. Collaborations with notable partners such as abrdn plc, TCS Diligenta, and HSBC plc fortify its market position and operational capabilities. Founded in the year 1782, the company has its foundations deeply rooted in London, United Kingdom, boasting a longstanding history of commitment to supporting individuals’ financial security into retirement.

Products and Services

Phoenix Group Holdings plc delivers an extensive array of products and services focused on savings and retirement, each crafted to address unique customer needs through various life stages.

• Defined Contribution Workplace Pensions: Tailored for the modern workplace, these pensions infrastructure allows employees to save for their retirement directly from their salary, ensuring a sustainable pension income during retirement years.
• Retail Savings for Retirement: Individualized savings solutions that encourage personal saving for retirement, beyond workplace pensions, offering flexibility and control over retirement funds.
• Pension Consolidation: This service allows individuals to consolidate multiple pension pots into a single plan, simplifying pension management and potentially optimizing pension value.
• Legacy Pensions and Savings Products: Specialized management of older pension and savings schemes to ensure they continue to meet the needs and expectations of policyholders.
• Income Drawdown: Offering a flexible approach to receiving retirement income, where individuals can draw money from their pension fund while the remainder continues to be invested.
• Individual Annuities: These are contracts purchased with a lump sum that provide a guaranteed income for life or a specified term, ensuring financial stability in retirement.
• Defined Benefit Pension Income: Provides a secured income in retirement based on earnings and the number of years of service, offering peace of mind for retirees from certain pension schemes.
• Home Equity Release: Allows individuals to access the equity tied up in their homes as a lump sum or additional income, without the need to move out, aiding financial flexibility in retirement.