The government is assessing new types of pension scheme designed to even out the risks between employer and employee following the closure of many final salary pensions by private firms.

The Chancellor has expressed his "shock" that some of the country's wealthiest people are able to organise their finances so they pay "virtually no" income tax.

SHREDDED

The Financial Services Compensation Scheme (FSCS) is to levy financial advisers for an extra £38m as it begins making part-payments to Arch Cru investors with eligible claims against failed IFAs.

Nottingham-based high net worth IFA Arden Court Group is to be acquired by discretionary wealth manager AFH Financial for an initial consideration of £362,000.

The Money Advice Service (MAS) has set itself a target of reaching 88,000 individuals through face-to-face advice this year as part of a "transformed" offering.

The FSA today said individuals making personal recommendations to retail clients via a simplified advice process must be qualified to the same minimum standard as those providing full advice.

IN DENIAL?

GRIPES

The Institute of Financial Planning (IFP) has launched a campaign designed to raise awareness of the benefits of financial planning to the general public.