A capacity crunch among providers trying to process requests to access to their pension pots is the biggest threat to the pension freedoms in the short term and risks creating disillusionment among consumers, The Pension Advisory Service (TPAS) chief...
MGM Advantage is to offer retirees a selection of guarantee options on their annuity contracts.
The majority of people accessing their pensions for the first time will be overpaying tax, particularly if they withdraw large sums of cash, Prudential head of business development Vince Smith-Hughes has warned.
Most savers have no intention of taking on the risks of investing in equities once they have begun to draw their pension, research suggests.
The government is being urged to ban defined benefit to (DB) to defined contribution (DC) pension transfers to minimise "complexity and confusion" once the 6 April retirement 'freedoms' are rolled out.
People could lose their entitlement to means-tested benefits if they spend their pension pots after taking advantage of pensions freedom, the government has warned.
The Financial Conduct Authority (FCA) has made it a requirement for firms to rank their annuity products against their peers and simplify the information they give to consumers in the form of wake-up packs.
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