Pensions

Complaints about pensions dealt with by the Financial Ombudsman Service (FOS) have fallen markedly year on year, figures show, with the impending changes to legislation cited as a possible explanation for the drop.

The government's guidance guarantee providers will not be properly staffed by April and will lack the right level of expertise to deliver the service, a pensions expert has warned.

Major shareholders, including Old Mutual's Richard Buxton have thrown their weight behind Aviva's £5.6bn takeover bid of Friends Life, saying the deal would strengthen both sides.

The government's new bonds for the over 65s have seen the biggest opening sales of any retail financial product in Britain's modern history, after more than 110,000 customers invested in the products, National Savings & Investments (NS&I) has said.

National Savings & Investments (NS&I) has been accused of underpreparing for the launch of its pensioner bonds after its website temporarily crashed shortly after they went on sale.

Saga and Tilney Bestinvest are to launch a joint venture offering investment and financial planning services to the UK's over 50s.

The freedom to sell your annuity (read: The freedom to get screwed)

Retirees who had already purchased an annuity may be able to benefit from the pension freedoms announced at last year's Budget by selling theirs to the highest bidder.

Interest rates for the new 'pensioner bonds' announced at Budget 2014 have been set at a market-beating 2.8% for the one-year product and 4% for the three-year bond.

Negative headlines about annuity sales next April could lead to a "tragedy" of retirees refusing to buy them, according to The Pensions Advisory Service (TPAS) CEO Michelle Cracknell.