Retirement

Just under 12m people in the UK are still not saving enough money to fund an adequate retirement income, according to research from the Department for Work and Pensions (DWP).

The Treasury expects to net an extra £3.9bn between 2015 and 2020 as a result of tax reforms designed to facilitate the Budget freedoms.

The cost of investing through self-invested personal pension (SIPP) wrappers will increase after new capital adequacy rules come into force, a provider has warned.

There has been an increasing trend of people starting their own businesses in the run up to and during retirement.

In this week's Retirement Planner news round-up we highlight five key stories you might have missed over the past seven days

Scottish Widows will continue to pay trail commission on workplace pension schemes until 2016.

Aviva UK has reported a 21% drop in the value of new life business it wrote in the first half of the year, mainly due to a steep fall in annuity business.

Legal & General (L&G) is considering launching lifetime mortgages as more retirees eye equity release to fund their income.

Sesame Bankhall Group has set aside £31m for possible customer redress as "a number" of business reviews with "uncertain" outcomes are completed, parent company Friends Life has announced.

Potential drawdown clients looking to keep their pension pot invested after April next year will be a "big target" for Standard Life, which earlier announced a near 60% drop in annuity margins for the first half of the year.