Retirement

The majority of IFAs advise their clients to contract back in to the State Second Pension (S2P), according to the Association of Independent Financial Advisers (Aifa).

The latest Retirement Index from Prudential reveals that a third of pensioners live on less than £7,500 a year forcing over 60% to curb their spending with many cutting back on necessities, not just luxuries.

STANDARD LIFE has wasted up to £3.5m gearing up for aspects of new pensions legislation scrapped just four months before they were set to come into force, according to the Scotsman .

The government has announced it will remove the tax advantages for investing in residential property or certain other assets such as fine wines, classic cars, art and antiques.

Protection for young families

Almost three-quarters of UK businesses believe the Government is mostly to blame for the pensions crisis and £27bn savings gap, according to new research from Winterthur Life UK.

Winterthur Life UK has announced separate management teams for its IFA and traditional businesses from the beginning of next year.

Executives of leading companies are secure in "a pensions ivory tower", with most directors able to retire before 65 with pensions worth 26 times more than their employees, claims new research from the Trades Union Congress (TUC).

There could be as much as £5bn of cash held in self invested personal pensions which is receiving poor rates of interest, new research claims.

John Hutton, secretary of state for work and pensions, said there will be no relaxation of fiscal discipline and the publication of the Turner report will be the beginning of the debate on pensions, not the end.