Investment

Independent financial advice remains the best route to saving correctly and preparing for retirement, Vince Cable says.

The Personal Accounts Delivery Authority (PADA) says the majority of respondents to its charging consultation paper are split between an AMC-only structure or an AMC plus contribution charge.

Personal account charges will struggle to fall below 0.8% if New Zealand's equivalent auto-enrolment scheme is used as a guide, Standard Life says.

Only 10% of advisers would look to purchase an annuity with the whole amount of their pension savings, according to Skandia.

Pension schemes may be suffering because too many are overweight in UK equities, according to Alexander Forbes.

The Association of British Insurers (ABI) has responded to concerns too many pension scheme members are unaware of the Open Market Option (OMO) by publishing new guidance to providers.

The pensions industry is crying out for a ‘campaign of change' as retirees are failing to take advantage of their pension rights under the Open Market Option (OMO), Living Time says.

Norwich Union has displaced Aegon Scottish Equitable as the firm offering the most competitive level annuity rates, according to Alexander Forbes.

More than two million Britons have reviewed their pension plans in the past year due to tumbling property prices but a third of the working age population have no plans at all, according to Baring Asset Management.

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