Investment

Research suggesting nearly six in ten people admit to never reviewing their pension plans has been cited by the ABI as a reason for upgrading its online pensions calculator.

More than half of young Brits are not saving enough for their retirement while almost as many do not participate in pension schemes offered by their employers, a survey suggests.

Pensioners who have not yet claimed from the Pension Credit scheme are being urged to do so, as the average payout to a new applicantis around £1,000.

The National Association of Pension Funds has appointed Robin Ellison as its next company chairman, replacing Terry Faulkner who will step down at the next NAPF Annual Conference in May 2005.

IFA firm Read Independent Financial Advisers Limited has been fined £150,000 by the Financial Services Authority for what it calls "serious defects in its sales process" and other handling aspects pension unlocking cases.

The Government has brought forward new proposals for the Myners principles of pension fund investment, adding further work is still needed.

Confidence amongst Brits regarding their annual retirement income rose 10% this year despite the talk of a pensions crisis, research indicates.

The Treasury has announced further steps towards regulating controversial home reversion plans.

A lack of self-regulation has contributed to actuarial advice becoming distinctly lacking in transparency, while the overall profession has been seen as to ‘insular' and cumbersome in adapting to changes, suggests a Government-commissioned report.

Obesity along with around 1,000 other medical conditions now qualify Brits for enhanced annuity rates, new research indicates.