Income

George Osborne famously referred to free retirement 'advice' during his Budget speech but 'guidance' in the supporting documents, suggesting he sees little difference between them. Does this matter or is the difference just semantics, asks Fiona Tait......

Defined contribution (DC) savers who intend to manage their own pension pot in retirement are unwilling to pay for regular advice, according to research from consultant firm Hymans Roberston.

A "radical rethink" is underway in the annuity market following the sweeping Budget changes but concerns over fund depletion remain, according to Equinity Paymaster.

The promise of guidance at retirement "does not go far enough" and a new form of retirement-focused advice must be created by the regulator, according to Royal London.

Malcolm McLean predicts politicians will target tax relief ahead of the general election

Did pensions just get exciting?

Partnership has launched an enhanced annuity which guarantees income for life but also gives retirees the chance to change their mind after 12 months.

Just Retirement is "rapidly adapting" its business model to accommodate changes to pensions announced at Budget 2014, after disclosing annuity sales are "at around half of pre-Budget levels".

Life insurer Friends Life has reported a "limited immediate Budget impact" on its retirement income business but said it expects annuity sales to drop by up to 70% in the medium term.

The Financial Conduct Authority (FCA) is considering ways it can make it clearer to consumers when they are buying products on a non-advised basis online, as more web-based advice solutions are developed.