Retirement

Five things clients will call you about this week

The Financial Services Authority (FSA) has issued a warning to advisers who recommend that clients invest in unregulated collective investment schemes in their self-invested personal pensions (SIPPs).

More 2 Life has seen its market share of lump sum business through advisers more than quadruple in two years.

Today's average annuity will pay £14,180 less over retirement than an annuity purchased three years ago according to MGM Advantage.

The implementation of the single-tier state pension will cost the exchequer £265m, according to official figures released today.

The equity release market has enjoyed its third successive year of growth according to figures from the Equity Release Council (ERC.)

The maximum income which can be taken through income drawdown will increase from 100% to 120% of GAD from 26 March.

A judge has refused to lift a lifetime ban on an adviser who was struck off for failing to compensate clients who the Financial Services Authority (FSA) found he had caused to lose "substantial" money from their pensions.

LV= has reduced charges on its self-invested personal pensions (SIPPs) worth between £350,000 and £1m from 35 to 20 basis points (bps), a decrease of more than 40%.

The Office of Fair Trading (OFT) has launched an investigation into the value for money of workplace defined contribution (DC) pensions schemes.