Retirement

ANNUITIES

EYE-CATCHING

HSBC will no longer offer its Workplace Retirement Services (WRS) through external advisers, it has confirmed.

The assets pension savers are allowed to invest in should be restricted and authorised, to avoid any further scandals like Harlequin, London & Colonial has warned.

A pension liberation website - Pension Cash Now - has had one of its adverts banned by the Advertising Standards Authority (ASA).

The cost of dealing with the country's ageing population will increase government spending by about 4% of GDP - or £61bn in today's terms - by the 2060s, according to government projections.

The current High Court case regarding pensions liberation does not have the scope to end the practice, a Chancery Division judge has warned.

Up to 55% of advisers have seen a rise in drawdown clients suffering cuts in income in the past 12 months according to MetLife research.

Business and compliance company SimplyBiz has launched a non-advised annuity referral service.

Steve Bee is calling for the simplification of pension tax relief, arguing all savings should be taxed at their deferred rate when drawn as income.