Platform review: a continuous struggle with income flexibility

Since the introduction of the pension freedom reforms in April 2015, consumers have increasingly turned towards income drawdown products, making retirement income functionality on platforms more important. However a new report claimed many of the popular platforms in the market have still not adapted sufficiently to give consumers the access to their funds they need. In the 2017 Spring Budget, the government reported the take up of pension freedoms had far exceeded expectations. The Treasury raised £1.5bn in pension tax due to withdrawals, nearly five times more than the anticipated £...