Income

Stakeholders have welcomed the government's decision to mandate regulated advice for those seeking to transfer out of a private sector defined benefit (DB) pension scheme.

Pensions minister Steve Webb has given the clearest indication yet of the make-up of the government's retirement ‘guidance guarantee', which will include a clear "hand off" to full advice for those who need it.

The full transcript of our interview with pensions minister Steve Webb

Video: Steve Webb on annuities, investment risk and pensions 'guidance'

Mark Hoban has backed the Money Advice Service (MAS) to play a central role in providing the guidance guarantee.

Australia is considering whether to force people to convert all or part of their pension benefits into retirement products to help manage longevity.

The Association of Professional Financial Advisers (APFA) wants the government to include references to the benefits of full financial advice in its at-retirement guidance guarantee.

Almost a third of UK adults do not know what changes to pensions were announced in the Budget or how they are affected, according to research.

Pensions minister Steve Webb said he was "astonished" when he learned of a claim by a former senior government adviser that the pension reforms were designed chiefly to bring forward the Treasury's tax income.

Nearly two-thirds of advisers have seen an increase in business enquiries since sweeping changes to pensions were announced in the Budget, according to a survey by Skandia.