Retirement

The Financial Services Authority (FSA) has confirmed self-invested personal pension (SIPP) charges disclosure exemptions will be removed from April 2013 to address current failings in the market.

The Financial Services Authority (FSA) is to press ahead with its proposed reductions in pension projection rates, despite opposition from providers.

Defined benefit (DB) pension scheme members are being left £2 to 3bn out of pocket every year as trustees and their advisers fail to update the terms offered on tax-free lump sums.

Aegon will transfer the operation of its defined benefit pension schemes to JLT Benefit Solutions under a partnership agreement which will see 100 staff transferred from the life company.

IT'S YOUR TIME

Legal & General (L&G) has reported increased pension assets of £429m in the third quarter as a result of auto-enrolment.

The Scottish Widows Women and Pension Report examines the growing gap between the amount that men and women are saving for retirement.

Fast food giant McDonalds will use the National Employment Savings Trust (NEST) for 35,000 hourly-paid workers as part of a two-tier auto-enrolment solution.

Prudential is working with the National Employment Savings Trust (NEST) and independent multi-employer scheme NOW: Pensions to provide auto-enrolment packages for its clients.

Wealth manager St James's Place (SJP) has stepped up recruitment activity ahead of implementation of the Retail Distribution Review (RDR) and on the back of the withdrawal of some advisory firms from the market.