Retirement

Government plans to overhaul the retirement process could increase the threat of pensions liberation fraud by overstretching administrators, warns the Pensions Administration Standards Association (PASA).

A think tank has called on the government to buy parts of people's homes and deliver a guaranteed lifetime income in return, in a bid to bolster retirement income for low earners.

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The guidance guarantee will fuel demand for independent advice and will be a "huge opportunity" for advisers, pensions minister Steve Webb has said.

Pensions industry stalwart Billy Burrows has joined annuity broker Key Retirement Solutions as associate director.

Steve Webb has repeated his call to scrap the lifetime allowance on pension saving and introduce a flat-rate tax relief of 30% on contributions.

The Pensions Regulator has urged trustees and employers to "work in a collaborative and transparent way" on scheme funding in its latest defined benefit code of practice.

The Association of Professional Financial Advisers (APFA) has called on the Money Advice Service (MAS) and The Pensions Advisory Service (TPAS) to deliver the government's at-retirement guidance guarantee.

The number of savers putting enough money into their pension to secure an adequate retirement is at its highest level since 2009 at 53%, according to Scottish Widows research.