Investment

The government has scrapped the proposed Limited Price Indexation (LPI) on money purchase schemes in order to increase flexibility and make life easier for scheme members.

Far from saving £80m annually the government's Pension Bill could end up costing an additional £400m annually, suggests research by consultant Watson Wyatt.

Proposed Limited Price Indexation annuities set out in the Pensions Bill may this week be removed from money purchase schemes because they would force members to buy up to three different retirement packages, suggests Scottish Equitable.

The FSA has imposed a £125,000 fine on Interdependence Limited for failure to properly oversee appointed reps who advised clients to withdraw cash early from their pension funds.

Consumers should be given more information on coming pensions legislation if the government wants to incentivise people to save for their retirement, urges the Association of British Insurers.

Revenue proposals to change income drawdown rules through pending pensions legislation will cost the industry millions, warns A J Bell.

A majority of UK pension schemes have fewer than 11 members despite recent efforts to incentivise long-term savings, says Steve Bee after reading Opra's latest figures.

Proposals for a European Directive forcing insurance companies to offer similar contract rates to men and women could tip more pensioners into poverty says the Pensions Policy Institute.

A free guide on SIPPs has been published by provider Pointon York for IFAs to use with clients.

Pending pensions legislation set out in the Finance Bill could open up a 'loophole' for employers wishing to minimise the amount of money they pay in corporate tax, believes A J Bell.