Global Banking & Finance Review
May 15, 2015
The new pension freedoms introduced by Chancellor George Osborne in this April’s budget will radically change how pensioners can and will spend their retirement pots. They will receive greater freedom, more flexibility and control of what they spend and how. However, what is now a freedom for pensioners threatens to turn into a technical melting pot of complexity for pension providers; many will not have technology systems and software in place able to cope with implementing new business rules that accompany offering a new and complex service.