Retirement

A Financial Services Authority (FSA) thematic review has uncovered widespread failings among self-invested personal pension (SIPP) operators.

BT will use a combination of its existing Standard Life defined contribution (DC) scheme and the National Employment Savings Trust (NEST) for auto-enrolment.

The government's proposed reforms to public sector pension schemes will cut the average benefit for members by more than a third, analysis has found.

The Complaints Commissioner has rejected a complaint against the Financial Services Authority (FSA) by an investor over the regulator's handling of the alleged ‘phoenixing' of an advisory business.

A fifth of people approaching retirement will suffer large income falls and should expect to have to rely on savings and inheritances when they stop working, a report has found.

The Prudential Regulation Authority (PRA) will wield a veto power over proposed terminal or annual bonuses for with-profits policies, under the new regime.

AJ Bell has outlined its plan to overhaul the income drawdown regime to make it fairer for consumers.

FIVE THINGS

The gap between the amount men and women are saving for retirement could grow to a ‘record high' of almost £30,000, according to Scottish Widows.

Curtis Banks has bought Alliance Trust Savings full self-invested personal pension (SIPP) book, made up of 6,000 plans worth about £3bn.