Investment

The industry must work together to solve the problem of the growing "advice gap" which will affect millions of people with small pension savings, a think-tank has warned.

The average 50-year-old has paid three-and-a-half times as much direct tax than they have invested in their pension when they hit 50, according to analysis from MetLife.

Retirement Planner's round-up of the top pension stories this week.

Restrictions on the National Employment Savings Trust (NEST) could leave medium-sized employers with only one provider to choose from for auto-enrolment, the pensions minister has said.

Restrictions on the National Employment Savings Trust (NEST) could be lifted after the government issued a call for evidence on the impact of the constraints.

Assets on Royal London's wrap platform Ascentric grew 42% to £4.7bn in the nine months to 30 September, with new inflows dropping 18% to £856m, according to latest figures.

Public sector pensions need further reform before 2020 to avoid an annual £32bn liability for UK taxpayers, a Centre of Policy Studies report has said.

At retirement specialist Just Retirement has reported record group sales for the first quarter of 2012-2013 of £455.5m, an increase of 36.6% on last year.

CONDENSED

A decision by the Financial Services Authority (FSA) to cut the lower projection rate for some investment products to 2% could deter many consumers from saving, provider LV= said.