Retirement

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.

Pensions minister Steve Webb has given an impassioned defence of the government's preferred pot follows member approach to eradicating small pots.

New standards of advice are needed to help scheme members navigate the increasingly complicated retirement income market.

The Financial Services Authority (FSA) has imposed a fine of £17,850 on Graeham Sampson, the former finance director of Montpelier Pension Administration Services Limited (MPAS).

The Company SSAS is the latest small self-administered pension provider to enter the market.

Pension providers who auto-enrol workers into "dodgy old" schemes will be named and shamed by the pensions minister.