MPs call on providers to set up mandatory 'default decumulation pathway'

In the report Pension freedoms, the committee said automatic enrolment has been a "tremendous success" at bringing millions more people into pension saving, but added there was little evidence to suggest drawdown customers are actively shopping around or indeed understand the options when it comes to investing their pension. As such, it said, customers are instead relying on getting a good deal from their existing provider. The report said: "We recommend every pension provider offering drawdown is required, by April 2019, to offer a default decumulation pathway suitable for their core...