Retirement

Saga director general Ros Altmann has said the maths behind the Retail Prices Index (PRI) is not wrong and the Office for National Statistics' (ONS) proposal to change it is solely about the government reducing costs.

Consolidating pensions through a pot follows member system is more cost effective for than alternative forms of accumulation, Department for Work and Pensions statistics show.

MPs should lose their gold plated defined benefit (DB) pensions and see them replaced by a career average set up, the Independent Parliamentary Standards Committee (IPSC) has recommended.

FIVE THINGS

Increased polarisation within the bespoke SIPP market could lead to the emergence of niche esoteric providers, AMPs' chairman has said.

An e-petition calling for drawdown rates to be revised to help pensioners who have seen their income drop has been posted on the government's website.

The Pensions Income Choice Association (PICA) has pushed Steve Webb to ensure 2.5 million members of trust-based pension schemes are covered by the forthcoming industry code of conduct.

More than half a million low-paid workers could lose out on thousands of pounds in employer pension contributions if the government increases the auto-enrolment earning trigger, unions have claimed.

The pensions industry needs to rebuild trust if people are to plan for retirement, a campaign manager has said.

A list of permitted self-invested personal pension (SIPP) investments would bring clarity to the market but would be hard to implement, Hornbuckle Mitchell has said.