Retirement

The National Association of Pension Funds has appointed Robin Ellison as its next company chairman, replacing Terry Faulkner who will step down at the next NAPF Annual Conference in May 2005.

IFA firm Read Independent Financial Advisers Limited has been fined £150,000 by the Financial Services Authority for what it calls "serious defects in its sales process" and other handling aspects pension unlocking cases.

The Government has brought forward new proposals for the Myners principles of pension fund investment, adding further work is still needed.

Confidence amongst Brits regarding their annual retirement income rose 10% this year despite the talk of a pensions crisis, research indicates.

The Treasury has announced further steps towards regulating controversial home reversion plans.

A lack of self-regulation has contributed to actuarial advice becoming distinctly lacking in transparency, while the overall profession has been seen as to ‘insular' and cumbersome in adapting to changes, suggests a Government-commissioned report.

Obesity along with around 1,000 other medical conditions now qualify Brits for enhanced annuity rates, new research indicates.

Age Concern England has criticised the Government's decision to set the retirement age at 65 and called plans to allow employers to sack older people over that age threshold as ‘a cowardly u-turn'.

The Government has blueprinted its plans to set the retirement age at 65 and implement it by 2006.

David Norgrove has been appointed as first chair of the new Pensions Regulator (TPR).