Retirement

The initial hike in the state pension age (SPA) for women improved public finances by £2.1bn as employment rates for both women and men increased, research from the Institute for Fiscal Studies (IFS) has found.

The National Association of Pension Funds (NAPF) and Wheels Common Investment Fund (WCIF) have lost their bid to recoup £2bn in backdated VAT on investment management services for defined benefit pension schemes.

The Department for Work and Pensions (DWP) must monitor the overall rate of participation in auto-enrolment rather than focusing on opt-out rates, providers have warned.

Scottish Widows' participation plans for the annuities market in 2013.

TAX PLANNING

ENHANCED ANNUITIES

Hornbuckle Mitchell has launched a sole trustee self-invested personal pension (SIPP) to the adviser market.

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

Awareness of auto-enrolment among intermediaries has improved since 2012, but knowledge gaps still remain among small business advisers, The Pensions Regulator (TPA)has said.

In this week's quick fire poll we ask: Would you like to see 'defined ambition' pensions?