Pension schemes urged to develop in-house income drawdown services

Speaking during a panel debate at the National Association of Pension Funds'(NAPF) Delivering Good Member Outcome seminar, FSCP chairman Teresa Fritz said members should not be forced into the retail income drawdown market. "Schemes will need to think about offering in-house income drawdown services," she said. "If members want to stay then we need to look at how we can help them and give them a good service. I feel we could see some horrors in the retail market over the next few years." She also pointed to recent research into consumer views of the annuity market. "We found that p...