Investment

Raising the retirement age to 70 should form part of a package of measures to stave off a pensions impasse, business leaders said today.

Pension charges may rise after the removal of RU64 but this is not necessarily a bad thing, industry figures say.

IFAs must review their clients and speak to those who will be affected by A-Day, according to the FSA.

Introduction of a simpler, fairer Citizen's Pension and raising the retirement age to 69 would take 10 million future pensioners off means-tested benefits, the National Association of Pension Funds says.

A substantial proportion of UK top end advisers believe up to 25% of their clients are likely to include residential property in a Self invested persoanl pension (Sipp), according to new research released by Winterthur Life.

Trustees will need to raise their game to meet new requirements, but will be supported in doing so by the Pensions Regulator, its chief executive, Tony Hobman, said today.

Up to 40% of people retiring could be eligible to receive a bigger pension by considering an impaired life or enhanced rate annuity, instead of a standard rate annuity, claims Bank of Scotland Annuity Service (BOSAS).

UK workers who put off starting retirement investing until their 35th birthdays risk spending the first 15% of their working day for the rest of their working lives just to build up a retirement income equal to two-thirds of current average income.

Self invested personal pensions providers need to guard against over enthusiasm or risk leaving themselves open to mis-selling and negligence, city law firm Reynolds Porter Chamberlain (RPC) has warned.

Scottish Life has launched an A-Day "survival pack" for intermediaries designed to help them understand and work within the new pension legislation.