Investment

A move in this week's Budget to scrap higher rate tax relief on pension contributions would be "entirely wrong" and "a direct attack on middle Britain", the Association of British Insurers (ABI) says today.

More than eight million UK pensioners have seen their monthly incomes fall by a quarter due to record low income rates, according to equity release trade body SHIP.

Employers no longer have to consult with employees when a group personal pension provider is switched, a lawyer says.

The Origo Options initiative, backed by a number of providers, has cut annuity transfer times at retirement by around two thirds.

A victim of unfair dismissal was compensated for the loss of her defined benefit pension scheme up to her retirement age by the Employment Appeals Tribunal.

Lincoln Financial Group has removed the administration fee on its retirement proposition Lincoln i2Live.

Around six million people will depend on their savings interest for a significant portion of their total income, according to Investec Private Bank.

Pension savers risk huge tax bills on their protected cash if they sign up for their employer's death in service benefits, according to AWD Chase de Vere.

Most IFAs believe they need to double the amount of annuity business they write to generate a "credible" income stream, research suggests.

Employers can reap cost savings from pension salary sacrifice in under a year if the employee contributions are in excess of £500,000 per year, Watson Wyatt says.