Retirement

People born in the 1960s and 1970s are likely to become the first generation since World War II who will be worse off than their parents in retirement, a new study has warned.

Two fifths of pension schemes are open to investing in alternative asset classes to reduce their portfolio risk, according to Aon Hewitt, increasing their need for advice in this area.

More than two million people have been auto-enrolled into a workplace pension scheme, according to The Pensions Regulator (TPR).

The Financial Conduct Authority (FCA) has said it recognises it has "much to prove" to the advisory industry, but hopes its actions and approach will show it is different from previous regulators.

HM Revenue & Customs (HMRC) has launched an online reporting service for managers of qualifying recognised overseas pension schemes (QROPS), which it said is more secure than paper-based reporting.

January will see gilt yields rise to 3.25%, up from 3%, meaning the maximum drawdown limit will rise in the New Year.

THE WINNER IS...

DECUMULATION

Retirement Planner's round-up of the top pension stories this week.

In this week's Retirement Planner quick fire poll we ask: Do we need the FCA to introduce a code of conduct for non-advised annuity sales?