Service not product: Why the pensions industry must shift its focus

With the pension freedom narrative firmly established, the industry faces pressure to be inventive. Options which were not available in the staid environment of annuities are gaining more attention from customers. More providers are considering what they can offer in terms of drawdown and cash lump sums. A panel discussion in London held by Barnett Waddingham on 1 June discussed how providers approach retirement innovation. The most arresting argument on the topic was made by Wealth at Work director Jonathan Watts-Lay. He believes the old model where customers are bombarded with produ...