Is the guidance guarantee enough when it comes to drawdown? Austin Broad thinks not…
George Osborne’s latest pensions taxation policy equates to ‘a mighty big shove into drawdown’, writes Rachel Vahey…
The Chancellor’s pension revolution continued as he scrapped the 55% ‘death tax’ at the Tory Party conference, handing drawdown another advantage over annuities. Jenna Towler gauges industry reaction…
Other Income articles
One in eight people aged over 50 has been approached by fraudsters offering early access to their pension pot, according to research from Fidelity Worldwide Investment.
The fallout for victims of pension scams will be greater than expected due to under reporting, according to the Pensions Advisory Service (TPAS).
The government should pay for the guidance guarantee’s first year of operation instead of charging the industry through a levy, according to MGM Advantage.
Wake-up packs for people approaching retirement should be scrapped in favour of a simple pensions passport to help make it easier to shop around, Hargreaves Lansdown has said.
Just Retirement has posted full year underlying pre-tax operating profits of £97m, 3% lower than last year.
Stephen Lowe looks at the post-Budget retirement landscape and asks if the guidance guarantee is enough.
The Chancellor’s pension reforms will see over-55s take out a total of about £5bn from their pension pots after the rules change in April next year, an actuarial firm predicts.
Almost 9,500 income drawdown contracts were written in the second quarter of the year, with the mean pot size dropping to just over £50,000, latest figures from the Association of British Insurers (ABI) show.
Toby Strauss, the chief executive of Scottish Widows, has said the pensions industry is in danger of "breaching its capacity to cope" following the far-reaching changes announced at Budget 2014, unless it is afforded some breathing space by policymakers.
The Pensions Advisory Service (TPAS) - one of the bodies tasked by the government with delivering free and independent guidance on retirees' options - has outlined its plans for how it would be done.
The guidance guarantee should be delivered as a process with various touch points not a one-off token conversation, the chief executive of the Citizens Advice Bureau has said.
Stephen Lowe takes a look at the recent Budget changes and highlights the need for more customer protection.
Two thirds of employees approaching retirement are planning to stay in either paid or unpaid work once they retire from their full-time jobs, a survey suggests.
Many people look to the US and Australia as models of DC best practice. However, are we right to follow their lead when it comes to auto-enrolment? Helen Morrissey takes a closer look.
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