Retirement

The Personal Accounts Delivery Authority (PADA) will ensure it does not present personal accounts as an opportunity for employers to reduce employee benefits, chairman Paul Myners says.

Pensions Minister Mike O'Brien has reiterated personal accounts will complement rather than replace existing pension provision.

Aegon has changed its annuities processes to allow IFAs to find instant online quotes from the Exchange or the Aegon website.

SIPP provider A J Bell has added commercial property investments to its SIPPcentre.

Consumers' faith in bricks and mortar to fund their retirement has grown dramatically over the past 12 months, according to research from Alliance Trust.

The launch of online SIPPs has attracted a generation of younger investors, according to SIPP provider James Hay.

Aegon has called on the pensions industry to take account of the distinctive operation of the corporate pensions market when responding to the Retail Distribution Review (RDR).

FTSE 350 pension schemes remain relatively well funded, according to Mercer.

Standard Life predicts setting up its personal accounts services could require up to 4,000 extra staff, as concerns mount providers will not be able to meet the escalating costs of the new pension system.

Actuarial consultancy Punter Southall has branded the Government's 82% tax on surplus pension funds handed to family as inheritance "disproportionate".