Retirement

James Purnell, the Secretary for Culture, Media and Sport, has replaced Peter Hain as Secretary of State for Work and Pensions, reports the BBC.

Peter Hain, Secretary of State for Work and Pensions, has resigned over his failure to declare £103,000 in party donations.

Axa and Winterthur Wealth Management have streamlined the businesses with three senior appointments.

The European Commission should create a single occupational pension market, the European Fund and Asset Management Association (EFAMA) says.

Setting up personal accounts has already cost the taxpayer more than £6m, says Pensions Minister Mike O'Brien.

UK pension schemes have lost all the gains made in 2007 following global market falls, according to employee benefits consultancy Aon Consulting.

Just Retirement has introduced age-banded rates to its equity release product, Roll Up Lifetime Mortgage.

Pension providers must improve service to customers taking out annuities, says a Prudential-hosted panel.

Gordon Brown has backed recommendations for MPs to surrender their ‘gold-plated' pensions.

RESEARCH from Investment Life & Pensions Moneyfacts has revealed 2007 as a disappointing year for pension savers, with pension fund returns at hitting their lowest level for five years.