Retirement

UK taxpayers waste more on Inheritance Tax (IHT) payments than any other duty as a result of poor financial planning, research suggests.

More small businesses are turning to small self administered schemes (SSAS) in order to borrow money from their employees' pensions, according to provider Hornbuckle Mitchell.

Pensions campaigner Dr Ros Altmann has called for the introduction of a National Wealth Service with free financial advice health checks to keep savers on the right track.

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.