Pensions

Wrap and pension provider James Hay has launched additional options on its low-cost self-invested personal pension (SIPP) aimed at mass market clients.

AXA Wealth has added two London & Colonial (L&C) pension products to its Elevate platform to offer advisers more investment options after the Retail Distribution Review (RDR).

High earners will be about £1,000 a year worse off following the government's planned state pension reforms, the pensions minister has admitted.

FIVE THINGS

IFAs will be hit with a "tsunami" of requests for information about corporate pensions in the next four years, forcing them to deal with the sector, according to pensions expert Steve Bee.

Poorer retirees will no longer have to pay higher-rate tax when they take a small pension pot as cash.

The Chancellor has announced cuts to pensions tax relief from 2014/15, meaning individuals will only be able to put away £40,000 annually free of tax.

Retirees with pension pots worth less than £18,000 will no longer have to pay higher-tax rate when taking a pension pot as cash, according to reports today.

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Retirement Planner's round-up of the top pension stories this week.