The advantages of defined benefit (DB) pensions appear lost on some final salary savers who are frustrated by a government rule mandating they seek regulated advice before transferring out, research suggests.
Only 1% of savers have opted to cash in their pensions completely since the retirement 'freedom and choice' reforms took effect last month, according to the country's biggest retirement adviser.
Annuities have become the new focus for complaints according to figures from the Financial Ombudsman Service (FOS), a year after the product was publicly abandoned by the Chancellor.
Columbia Threadneedle has launched a mobile and tablet app financial advisers can use to access the fund manager's products, based on what their clients may need in retirement.
A new association for directly authorised advisers said it hopes to bridge the advice gap by introducing a type of service for which commission-like payment will be possible.
A surge in demand post-RDR makes for positive headlines, but it also masks a bigger problem
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The Chancellor George Osborne is set to take the unusual step of delivering two Budgets in the same year after announcing plans to keep the promises the Conservatives made prior to winning the general election.