London - Britain's government and regulators are not ready for pension reforms, six weeks ahead of their launch date, the head of the insurance body said.
Reforms due to come into force on April 6 will allow retirees to use their pension pots as they choose, with no obligation to buy an annuity, which gives an income for life.
"The government has simply not been able to deliver enough at this stage to ensure the reforms have a flying start when they go live," Huw Evans, director-general of the Association of British Insurers said in prepared remarks to be delivered at a conference on Wednesday.