Retirement

Duncan Young discusses what needs to happen to grow the equity release market

The term ‘pension' should be replaced with ‘retirement pay' to help engender a greater understanding of the importance of saving for retirement, according to B&CE Benefit Schemes.

Just 13pc of assessed firms met the FSA's March deadline for TCF, the regulator revealed today in its latest update.

Almost half the nation (49pc) is still not saving adequately, according to Scottish Widows' annual pensions report.

Fear is one of the main factors prompting people to increase their pension savings, according to the Scottish Widows Pensions Report 2008 .

Advisers may need to sharpen their focus on treating customers fairly (TCF) following today's DWP green-light allowing protected rights investment in SIPPs, Scottish Life's Alasdair Buchanan warns.

The Government has been criticised for failing to go the "whole hog" on allowing protected rights investment in SIPPs.

Two thirds of Brits (66 per cent) have little or no faith in the Government when it comes to pensions, according to a survey by Friends Provident.

Providers have today welcomed the Department for Work and Pensions (DWP) decision to give the go-ahead for protected rights to be held in SIPPs.

Advisers stand to reap the benefits of allowing protected rights investment in SIPPs, but life offices and insurance companies will lose out, Suffolk Life's John Moret says.