MetLife takes case for flexible drawdown to Treasury

MetLife said it will launch a campaign in September to put pressure on the Treasury to relax drawdown rules and allow investors to hold deferred annuities as assets within their pension funds. Deferred annuities guarantee an income at a fixed age, whilst investors can still draw an income from the rest of the fund. Currently, investors can only hold fixed term annuities in their pension funds as assets. Metlife will argue recent drawdown reforms are not flexible enough to help investors access longevity insurance, which in turn could help meet their care needs in later life. Sin...