Axa Wealth is to drop charges associated with drawdown and its Pension Investment Account on its Elevate platform.

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HM Revenue & Customs (HMRC) has clarified its position on why certain retirees using standalone lump sums trigger a reduced annual allowance.

The qualifying earnings rules which govern auto-enrolment contributions should be scrapped to boost saving potential, according to provider NOW: Pensions.

Clive Cowdery, the former head of Resolution and major shareholder at Friends Life, is set to walk away with £160m from the £5.6bn takeover deal announced on Friday.

Labour has urged the government to ensure none of the 320,000 savers expected to take advantage of pension freedoms are exposed to "rip off charges".

Aviva has confirmed it is to buy rival insurer Friends Life in a deal worth £5.6bn which will create a combined business with 16 million customers.

Sales of drawdown contracts have more than doubled compared to the third quarter of last year while annuity purchases continue to fall, according to latest Association of British Insurers (ABI) statistics.

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