Ministers have outlined the options being put forward to implement a ban on pension scheme charges above 1%.

ANNUITIES

ARMCHAIR CRITIC

State pension reforms will result in a considerable drop in the number of people eligible for means-tested Pensions Credit in the coming decades.

Pensions minister Steve Webb plans to cap charges on auto-enrolment pension schemes at 0.75%.

The compulsory use of an annuity broker at retirement could be written into the latest version of the Pensions Bill after Labour tabled an amendment to the legislation.

The government will "move quickly" to place a cap on pension charges and a consultation is due imminently, pensions minister Steve Webb has said.

A new business set up to help advisers profitably break into the auto-enrolment space is being launched on Monday.

Retirees could be missing out on a collective £33m a year if they rely on online annuity brokers as many fail to offer the best possible rates, analysis Key Retirement Solutions (KRS) shows.

Careers breaks to care for children, more common part-time working and typically getting paid less money than men are key factors preventing women from saving adequately for retirement, according to a report.