Aegon has launched a new pension product utilising elements of its platform technology.
The provider said One Retirement had been set up to operate in a post-Retail Distribution Review (RDR) world and brought increased flexibility to retirement saving.
Gordon Greig, proposition director at Aegon UK, said the pensions market had changed "beyond recognition" and it was not good enough to update old pension products.
"We started from scratch. We went out and spoke to customers and advisers. We studied the current market place and researched how it is likely to evolve in the future. The feedback we received suggested advisers and their customers wanted three things from a new retirement product.
"It had to be simple, reassuring and rewarding."
Aegon said the product's online functionality would put advisers in control while saving time and adding simplicity and transparency needed to enhance client relationships.
It added the growing desire to retire gradually rather than on a specific date has been catered for with drawdown options that give more flexibility than ever before.
Greig said: "We're confident in this new product because we've listened carefully to advisers and customers. We know they are looking for modern, flexible, transparently priced and competitive solutions.
"In this post-RDR world, demonstrating the value of professional financial advice is more important than ever. We're committed to working with advisers to help them differentiate their services and deliver reassuring and rewarding outcomes for their clients."
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