Retirement

In a quick-fire response, the Liberal Democrats claim pension plans laid out by the Tories yesterday will not aid the poorest two-thirds of pensioners but make many poorer still.

Amid the complications concerning rules running up to A-Day, eight out of ten IFAs have recorded a significant upward curve in SIPP business over the past twelve months, research indicates.

Advisers are sounding out early warnings regarding the overburden providers face in the 'last-minute' run up to A-Day, 6 April 2006, when the rules of simplifying pensions are implemented.

The Conservative Party has pledged to re-establish the basic state pension earnings link, reduce the role of means-tested benefits, and scrap compulsory annuity purchase for 75-year-olds under a new Conservative Government.

Working Brits begin saving for their retirement at the age of 31 and put away an average £198 a month, leading the way for countries in Europe, research indicates.

The controversial Pension Protection Fund has launched its website.

Several individual life offices along with the ABI are now supporting the creation of a pensions clearing system.

The Social Security Pensions (Low Earnings Threshold) has been increased from to £12,100 from £11,600, applicable at the start of the new fiscal year in April.

The sale of annuities has almost trebled over the past ten years, but consumers are still in the dark over exactly what their money is buying, research suggests.

Teachers' union group the National Union of Teachers is stepping up its efforts in its protest of the Government's proposal to raise the normal pension age from 60 to 65.