Retirement

Just Retirement annuity sales, including enhanced and fixed term products, were up more than 35% to £313.2m to 31 March, third quarter results show.

FIVE THINGS

Almost half of advisers have reported a shift in client money away from traditional pension saving to alternative products, a YouGov poll has found.

A number of pensioners in income drawdown who have seen their payments fall by up to 50% have complained of potential adviser ‘mis-selling', a provider has said.

Self-invested personal pension (SIPP) disclosure changes should be deferred for at least a year to avoid disrupting implementation of the Retail Distribution Review (RDR), Aegon has warned.

The government risks undermining confidence in auto-enrolment through "endless changes and delays", warns the National Association of Pension Funds.

Mayoral special

Two in five people planning to retire this year would be happy to work past 65 if they were able to, according to a survey.

With about five months to go until auto-enrolment begins just under 70% of employees remain unaware they will be affected by the changes, Aviva research has found.

The UK pensions bill hit £7.1trn at the end of 2010, weighed down by firms with defined benefit (DB) schemes owing £1.3trn in pension obligations, national statistics show.