Retirement

At retirement specialist Just Retirement has reported record group sales for the first quarter of 2012-2013 of £455.5m, an increase of 36.6% on last year.

Self-invested personal pension (SIPP) provider James Hay Partnership is to waive its £50 transfer fee for clients transferring into its iSIPP.

CONDENSED

The Financial Services Authority's (FSA's) move on self-invested personal pension (SIPP) disclosure rules poses a major challenge to all providers and adds no value for consumers, John Moret has said.

A decision by the Financial Services Authority (FSA) to cut the lower projection rate for some investment products to 2% could deter many consumers from saving, provider LV= said.

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.

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