Income

The Treasury expects to net an extra £3.9bn between 2015 and 2020 as a result of tax reforms designed to facilitate the Budget freedoms.

Legal & General (L&G) is considering launching lifetime mortgages as more retirees eye equity release to fund their income.

Sesame Bankhall Group has set aside £31m for possible customer redress as "a number" of business reviews with "uncertain" outcomes are completed, parent company Friends Life has announced.

Potential drawdown clients looking to keep their pension pot invested after April next year will be a "big target" for Standard Life, which earlier announced a near 60% drop in annuity margins for the first half of the year.

Annuity margins at insurer Standard Life were down 59% in the first half of the year due to the sweeping changes to retirement income announced in the Budget, latest results show.

The guidance guarantee, if delivered as planned, will do little more than deter people from "doing stupid things" with their pension pots - it will not help them plan for their retirement, according to LEBC.

In this week's quick fire poll we ask whether you agree with the suggestion that a pensions passport is a "win-win."

BlackRock is working to "repurpose" its range of target date funds and introduce an income drawdown product in response to the liberalisation of defined contribution (DC) regulation.

Provider Aviva has dropped the £100 a year drawdown charge on its platform.

Annuity sales have dropped 43.8% year on year as retirees wait for pension freedoms to begin in April 2015, according to latest research.