Retirement

Scottish Widows could be hit with a compensation claim which could cost it up to £1bn, following accusations it gave negligent advice to around a hundred final salary pension schemes.

Annuity rates have rebounded to beat the highs seen in December last year after faltering slightly during Q1 2008, according to Investment Life & Pensions Moneyfacts.

The cost of guarantees on variable annuity products should be kept at 1% or less of the fund value per annum for consumers to be willing to pay for them, according to three-quarters of attendees at a recent Watson Wyatt debate.

Pensioners with fixed rate annuities risk losing around a fifth of their purchasing power over the next five years due to rising inflation, according to Aon Consulting.

The Office for National Statistics (ONS), a key source of pensions data, says it drastically underestimated private pension income because of a computer error.

The Financial Services Skills Council (FSSC) has launched a new national standard for financial advisers who work with older clients.

Pension Insurance Corporation has launched a new insurance product to protect defined benefit pension funds and their sponsors against the cost of pensioners living longer than expected.

The proportion of UK workers concerned they will not be able to afford the 4% contribution to a personal account has risen, a study suggests.

Alliance Trust Savings has launched a webcast designed to help advisers understand the options for transferring in-specie assets into pension plans.

BNP Paribas Securities Services has unveiled a white-label SIPP solution which will enable advisers, wealth managers and asset managers to launch their own SIPP product.