One worker in five is putting nothing aside for retirement, a report warns. A further third of Britons are not saving enough to avoid a dramatic fall in living standards in old age.

Fidelity FundsNetwork has appointed Personal Finance Society (PFS) director Jon Everill head of advisory services.

ERRORS

A group of 16 MPs has pledged to support investors in failed scheme Arck in their fight to get redress from Yorkshire Bank.

Positive Solutions raised concerns with three clients about the advice to invest in Harlequin Property in 2010 after deeming the Caribbean property scheme to be too risky for a pension.

GOOD GOLD

Households and businesses should be told that borrowing costs will remain at rock-bottom levels until the economy is motoring again, the International Monetary Fund has said.

Lloyds has said it will raise £450m in gross proceeds by selling a 15% stake in wealth manager St. James' Place (SJP).

Cofunds chairman Charlie Eppinger is to step down as the acqusition of the platform by Legal and General completed.

FundsNetwork has accelerated its take on of clean share classes to achieve its target of having 95% of current platform assets covered by clean share classes by the end of June.