Several firms have announced new product launches, with the extended offerings designed to improve retirement outcomes, pension access and de-risking options for UK savers and schemes.

Intersolve, an actuarial services firm, has launched Adaptive Pension, a spending solution designed to deliver defined benefit-style outcomes for individual money-purchase pensions.

The firm said the proposition uses its proprietary “contingent spending” technology to adjust retirement income in line with market performance, aiming to provide a more stable and efficient drawdown experience.

It added that the product can outperform insured annuities by more than 25 per cent, with even greater gains compared to deferred annuities.

According to Intersolve, traditional fixed spending approaches leave around 40 per cent of retirees at risk of exhausting their savings, while half end up with significant unused funds.

Adaptive Pension aims to address this by dynamically adjusting spending levels, targeting a 95 per cent likelihood that retirees will not run out of money before age 90, while providing, on average, 5-10 per cent higher lifetime spending.

When investment returns exceed expectations by 5 per cent or more, the system can trigger “bonus” payments that may double monthly income.

The firm stressed that clients retain full control over their underlying investments and can work with their chosen adviser, supported by tools such as detailed spending plans, portfolio revaluation tools, and a secure online portal.

The product is available immediately for both lump-sum and contribution-based retirement planning.

Elsewhere, PensionPay has announced a new collaboration with Visa to deliver what it describes as the UK’s first digital wallet for retirement savings and investments.

The platform will enable schemes and providers to offer savers instant, tax-aware withdrawals and greater control over how they access their retirement income.

As part of the collaboration, PensionPay will launch a Visa-branded card alongside a white-label digital wallet that providers can integrate into their own platforms.

The firm claimed that leveraging Visa’s global network would support secure, rapid and seamless transactions for pension members.

PensionPay founder and CEO, Duncan Rutherford, said connecting pensions to trusted payments infrastructure can improve saver confidence and engagement.

Visa UK & Ireland head of new business development, Claire Dopson, added that the partnership supports innovation that makes retirement money management “more convenient and secure”.

The firms said the solution is designed to support increased contributions, improve member experience, and help schemes meet Consumer Duty and value-for-money expectations.

Meanwhile, XPS Group has launched XPS Catalyst, an end-to-end service aimed at helping defined benefit (DB) schemes with under £15m in assets complete insurance buyouts more quickly.

The consultancy highlighted that around 1,850 of the UK’s DB schemes hold less than £10m, with more than 600 believed to be fully funded on a buyout basis but still uninsured.

Catalyst claims to bring together expertise across XPS’s risk settlement, actuarial, investment and administration teams to address common barriers to buyout, such as data cleansing, benefit specification and GMP equalisation.

XPS said schemes can be onboarded within five weeks and transact in as little as three months, compared with the years it can take for smaller schemes to reach market.

XPS partner, Steve Morris, argued that smaller schemes had been “neglected for too long”, noting that many are ready to secure member benefits but struggle to gain insurer engagement.

“XPS Catalyst has been specially designed to resolve this by putting the right people and processes in place to get schemes out to market quickly,” he added.

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