The Pensions Advisory Service (TPAS) and Citizens Advice have released job specs for people looking to provide pensions 'guidance' - with each organisation requesting different levels of desired pensions knowledge.

The Financial Ombudsman Service (FOS) is to make further cuts to its operating budget in the coming financial year and has frozen its levy at £23.3m.

Steve Webb's plan to extend pension freedoms to all retirees, creating a market for annuity resales, is well-meaning but unlikely to work in practice, Fidelity retirement director Alan Higham has said.

The government has recovered a further £1.3bn from the Landsbanki estate in Iceland, which operated as Icesave in the UK, following its collapse at the height of the financial crisis.

The Financial Conduct Authority (FCA) must establish a ‘second line of defence' for retirees ahead of pension freedom or the industry faces another major mis-selling scandal, according to MPs.

Why better for clients is better for business

Prudential has launched a flexible drawdown option to its range of retirement products ahead of pension freedoms which come into force in April next year.

About two out of three financial advice clients receive ongoing services but only half understand what they are actually paying for, research from NMG has found.

The Co-operative Bank has failed a "stress test" carried out by the Bank of England designed to see if the banking sector could withstand another financial crisis.

Financial planning and investment management firm AFH has secured £1.9m from investors through unsecured notes and extended its deadline to meet further demand from self-invested personal pension holders.