Retirement

Helen Morrissey looks at the implications of the Treasury announcement on transfers

Financial advisers could pay a larger share of the costs for delivering the government's ‘guidance guarantee' than pension providers.

Revealed: The 12 standards retirement 'guidance' providers must meet

Stakeholders have welcomed the government's decision to mandate regulated advice for those seeking to transfer out of a private sector defined benefit (DB) pension scheme.

The Financial Conduct Authority (FCA) has found evidence of poor pension transfer advice, and, in a separate review, has written to the CEOs of self invested personal pensions (SIPP) providers raising concerns over firm failings.

Savers are to receive free independent guidance from the Money Advice Service (MAS) and The Pensions Advisory Service (TPAS) when given unfettered access to their pension pots from next year, the government has said.

Pensions minister Steve Webb has given the clearest indication yet of the make-up of the government's retirement ‘guidance guarantee', which will include a clear "hand off" to full advice for those who need it.

HMRC has published guidance on the transitional issues associated with the pension changes that were announced in this year's Budget.

The full transcript of our interview with pensions minister Steve Webb

Video: Steve Webb on annuities, investment risk and pensions 'guidance'