Under pressure: Will platforms struggle to cope with pension freedom?

Under pressure: Will platforms struggle to cope with pension freedom?

Jenna Towler
clock •

One provider has sounded alarm bells on a platform ‘capacity crunch' in the wake of pension freedoms. Jenna Towler finds out how platforms plan to keep up with drawdown demand

Standard Life is working on the basis that it will see a fivefold increase in demand for drawdown when pension freedoms kick in from April. The insurer predicts about 30% of retirees will opt for drawdown, compared to just 7% today. Many of these will fall below the traditional £100,000 viability limit and could be non-advised, which bring its own set of separate challenges. A fivefold increase in demand for drawdown, advised and non-advised, will no doubt be a challenge for advisers and platforms alike. Standard Life head of adviser platform propositions David Tiller says platform...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Big players give The Platforms Association's transfer charter a miss

Big players give The Platforms Association's transfer charter a miss

AJ Bell and Parmenion choose not to sign up

Sophia Panayi
clock 25 September 2026 • 2 min read
Most platforms sign up to transfer charter

Most platforms sign up to transfer charter

Signatories include Benchmark, Fidelity International and Quilter

Sophia Panayi
clock 17 September 2026 • 3 min read
Will the incoming stocks and shares ISA cash interest levy impact platforms?

Will the incoming stocks and shares ISA cash interest levy impact platforms?

Proposed regulations yet to clarify what is an ‘acceptable’ cash holding

Sophia Panayi
clock 15 September 2026 • 5 min read