Investment

The Department of Work and Pensions' latest pensions proposals published this week lack real consumer incentive to bridge the retirement savings gap, say industry experts.

Self-employed people have to work longer and harder if they want to receive the same retirement income as employees, says the Pensions Policy Institute.

Despite a massive recovery in stock markets last year, the cost of annuities has grown even faster, leaving the UK's pension system with a deficit of about £330bn on a non-profit annuity buy-out basis, says consultant Mercer.

The Treasury will drive a hard bargain with providers who are planning to develop onshore real estate investment trusts (REITs), says Chris Turner, Henderson TR Property investment trust manager.

Winterthur Life is staging a series of regional workshops to update IFAs on the proposed changes and impact of pensions simplification, as well as demonstrate their Portfolio Balance IT tools.

Uncertainty over the financial strength of companies is turning more customers towards guaranteed annuities, says the Annuity Bureau, quoting figures from the Association of British Insurers.

The Department for Work and Pensions has outlined proposals which reveals the government's first step towards implementation of compulsory pensions.

Legal & General's pensions technical team - headed by Colin Batchelor - has published a booklet to help IFAs stay one step ahead of the government pension simplification proposals.

Norwich Union has launched an information pack which is designed to help IFAs understand how pensions simplification will affect their client's policies and how to plan for its implementation on A-Day.

Advisers taking the K10 or K20 Advanced Financial Planning Certificate retirment planning exams will from April be required to sit a two-hour, two section paper instead of the previous format, says the Chartered Insurance Institute.