Retirement

The Financial Services Authority has uncovered inconsistent levels of advice given to members switching into personal pensions or self-invested personal pensions from existing arrangements.

Deep interest rate cuts act like a tax increase on the incomes of retired people, according to independent pensions adviser Dr Ros Altmann.

Life Trust Insurance has launched a modelling tool to help advisers calculate projected income drawdown streams for their clients.

Britain's pre-retirement population is growing increasingly concerned about the impact of the credit crunch on their pensions savings, yet 60% have shunned financial advice.

Creating a simplified annuity process for Personal Accounts members could hamper consumer choice, according to providers.

Pension savers in schemes set up before A-Day should move quickly to protect their benefits from onerous tax charges, says Rowanmoor Pensions.

More than one in three Britons expects to have to work after reaching retirement age if they wish to maintain their lifestyle, research suggests.

Annuity rates headed downward in November, and further large falls are expected as interest rate cuts feed through to the bond market.

Final salary scheme funding jumped back into a £23bn surplus in November - the largest single monthly rise on record, Aon Consulting says.

The Personal Accounts Delivery Authority (PADA) may appoint a panel of insurers to provide annuity options to scheme members, it was announced today.