When the pension freedoms legislation was enacted in April 2015, it removed many restrictions around defined contribution (DC) schemes and provided more flexible access to pension savings. Although the rules allowed for a wider range of income options, six years on advisers continue to struggle to access the full range of flexibility for their clients through mainstream platforms.
Even though savings in pensions wrappers account for half their assets, advised platforms generally remain focused on accumulating money, rather than providing a choice of decumulation options. While some specialist ‘at retirement’ providers have an abundance of withdrawal functionality and can offer […]
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