Retirement

Income drawdown is finally coming of age

Aegon has launched a ‘third-way' retirement income product on its platform which gives retirees access to drawdown with a guaranteed level of income.

Advisers and other financial services stakeholders have questioned the relationship between the Treasury and the Financial Conduct Authority (FCA) following chief executive Martin Wheatley's somewhat surprising exit from the watchdog.

Our weekly heads-up on the stories that may have caught your clients' attention over the weekend...

Everything advisers need to know about the week

Why resistance is futile

Members of the work and pensions select committee are to launch an inquiry into advice and guidance available to retirees following pensions freedom to ensure people are not "ripped off" when accessing their pots.

The Financial Services Compensation Scheme (FSCS) wants to increase protection limits for self-invested personal pension (SIPP) investors following the freedom and choice reforms.

The average compensation payout for a SIPP-related claim against failed IFAs rose almost 50% in 2014-15 against the previous 12 months, prompting a £20m interim levy on life and pensions advisers.

The government has introduced anti-avoidance measures to stop people using salary sacrifice to ‘lower' their salary to get around the lower annual allowance for high earners.