Retirement

FIVE THINGS

The Treasury has spent more than £2.6m on administering the Equitable Life payments scheme (ELPS) in the three months to November, government figures have shown.

Support services provider SimplyBiz has launched an auto-enrolment (AE) tool to help its member firms deal with an anticipated influx of AE business.

Steve Webb's recent comments on annuities have provoked fierce debate. Helen Morrissey asks if this can provoke a wider conversation on the future of the retirement income market.

Pensions minister Steve Webb has continued his attack on the annuity market, saying the products are not good value and vowing to "shake up the market".

Tax relief on pension contributions should be scrapped and replaced in favour of a simple matching savings scheme, according to think tank ResPublica.

The at-retirement market presents significant growth opportunities for advisers and providers according to research from Dunstan Thomas.

STATE PENSION

Advisers have just a few days left to be part of the launch of a free consumer directory of retirement specialists before the site goes live on Monday.

A Conservative MP has warned annuities could become the next financial services mis-selling scandal without an urgent and radical overhaul.