Retirement

Two in five people retiring this year still provide financial support to their families, according to research from Prudential.

Steve Webb's pot-follows-member pension policy will make it easier for people to manage multiple pension pots but clarification is needed on the role of advice, Aegon has said.

The Pension Income Choice Association (PICA) has appointed The Annuity Exchange to build a new directory of retirement income intermediaries.

The cost of buying a £5,000 retirement income has jumped by 29% since December 2009, according to an Office for National Statistics report.

The "high profile" of Tesco will boost retirees' inclination to shop around for the most appropriate pension income product after the supermarket giant announced it is to launch an annuity comparison service, according to Tom McPhail.

The Department for Work and Pensions has confirmed it will create an ‘automatic transfer' system for small pots of less than £10,000, allowing workers to take their pensions with them from job to job.

Novia has warned its users that basic errors like failing to use a client's full ISA allowance could lead to legal action from increasingly aggressive claims management companies (CMCs).

Tesco is awaiting regulatory approval to launch an online annuity comparison service, though it does not plan to launch own-brand annuity products.

Wealth manager Mattioli Woods has acquired the pension administration business of Ashcourt Rowan in a deal which could be worth more than £1.3m.

FIVE THINGS