Pension providers are failing to meet the challenges of the pension freedoms by not launching new retirement income solutions, which could undermine the success of the retirement reforms, warned MetLife.
MetLife said products and solutions launched by providers so far have simply upgraded existing products such as annuities or drawdown, rather than making new solutions which balance the certainty and flexibility needed since the launch of the pension freedoms.
MetLife said providers had not ‘risen to the challenge’ of innovation…Read more at New Model Adviser