Retirewell (MyTime)

Stochastic modelling for annuity purchase.

Retirewell offer a personal pension called MyTime designed to create a sustainable income in retirement. Aimed at individuals for whom financial advice does not represent value for money, the pension fund is segmented using a four-pot model drawing income initially and then buying an annuity at the right time.

The Hartree Centre Cardiff Hub outlined how stochastic simulation techniques can be used for identifying the best time to switch from drawing down from a portfolio to buying an annuity. The team also outlined how the company can integrate AI technologies to improve its offering.

We are incredibly grateful to the Hartree Centre Cardiff Hub for its support in designing SmartAnnuityAi for My Time Pension. This collaboration has played a vital role in turning our ambition of sustainable retirement income into a practical, scalable product.

This company received an approximately 12-hour interaction focused on a specific business problem or technology area.