Income

New standards of advice are needed to help scheme members navigate the increasingly complicated retirement income market.

G-DAY

The over 60s are saddled with the highest levels of overdraft debt, according to research from the Consumer Credit Counselling Service (CCCS).

Just Retirement has reported record sales of annuities and equity release mortgages totalling almost £1.5bn and increased its operating profit by 15.7% to £87.1m.

Old Mutual is to launch a range of at-retirement products, in a bid to rival upscale wealth managers like St James's Place.

Self-employed people who plough their income into their business and dismiss retirement planning are taking a risk, research has suggested.

Advisers will have a bigger job on their hands after gender equalisation comes into force this year, indicates research.

FIVE THINGS

The Pensions Income Choice Association (PICA) has pushed Steve Webb to ensure 2.5 million members of trust-based pension schemes are covered by the forthcoming industry code of conduct.

Fixed term annuities can benefit clients in the right situation and should be given full consideration by advisers dealing with clients approaching retirement, according to a report.