Income

Controversial proposals to allow existing pensioners to sell their annuities for cash - and insurers to compete for the contracts - are to be discussed by ministers this week ahead of the 18 March Budget, according to reports.

Video: Rebooting Retirement Income (Part 3)

Rebooting Retirement Income (Part 2)

Rebooting Retirement Income (Part 1)

One in five of those retiring in the coming year have no idea how their pension withdrawals will be taxed, Fidelity research has found.

Providers who have cut drawdown charges in the run-up to April 6 to "grab market share" will revisit their decisions in the months to come, suggested LV=.

Providers have said a charge cap on income drawdown, as proposed by Labour leader Ed Miliband, is "unnecessary" and a "solution to a problem that does not even exist".

More than half a million people will be able to take advantage of the government's changing regulation around pensions from 6 April, according to latest official estimates.

A drawdown charge cap should be placed on sales to provider's existing customers to ensure people are not sold inappropriate products after pensions freedom comes into effect, Which? has said.

Standard Life will scrap charges linked to its flexible drawdown product in readiness for pensions freedom from 6 April.