Retirement

MGM Advantage has confirmed its annuity quoting structure and business model for the period leading up to the EU gender ruling on 21 December.

Life and pensions giant Prudential could see its A+ credit rating downgraded by Standard & Poor's (S&P), the FT reports.

The Association of Independent Financial Advisers (AIFA) has come out strongly against plans to increase the Financial Services Compensation Scheme (FSCS) levy threshold.

Hornbuckle Mitchell has won a case against an investor who claimed their due-diligence lost him £300,000 when esoteric investments held in his SIPP went wrong.

The Department for Work and Pensions will re-launch combined pension statements on 5 November after being suspended for technical updates.

Labour has asked the government to amend current drawdown rules to ease financial pressure on people who have seen their income drop by up to 40%.

‘Inappropriate' active member discounts (AMDs) could threaten the success of auto-enrolment and must be restricted, Legal & General has warned.

EPIPHANY

Average pensioner incomes have increased by 50% between 1994 and 2011, according to the latest research from the Office of National Statistics.

Prudential is to compensate a member of its own pension scheme after it processed his open market option (OMO) annuity purchase at the wrong time, reducing his total purchase sum.