Retirement

Zurich has confirmed it is to transfer part of its annuity business, worth approximately £3.7bn in assets, to Swiss Re.

An amendment made to the Pensions Bill by Baroness Hollis, ahead of its first debate in the House of Lords, could help ease the impact of means-testing on personal accounts, says Standard Life.

New amendments to the Pensions Bill 2007 mean protected rights will still be treated separately from existing savings through the requirement to purchase a 50% spouses pension, claims Standard Life.

Advisory firm Montfort International has attacked some Australian financial advisers and pension funds for using "scare tactics" to encourage pension transfers from the UK ahead of the changes to the Australian system on 1 July.

The pension scheme deficits of the 200 largest defined benefit schemes has fallen to its lowest level of £4bn, leaving nearly half of the schemes in surplus.

Scottish Life has backed calls for defined contribution schemes to take more responsibility for its investment strategy.

HM Revenue & Customs has confirmed it will make changes to current legislation to allow Australian schemes to continue to be included as Qualified Recognised Overseas Pension Schemes (QROPS) where appropriate.

Personal accounts could lead to "pensions apartheid" as entry into good existing occupational schemes is restricted by employers following the introduction of auto-enrolment, claims the Association of Consulting Actuaries.

Nearly 40% of defined contribution scheme members are losing an estimated £225m from their pension pots by failing to take advantage of matching contributions from employers.

In the run up to retirement investors should look to take a balanced, rather than overly cautious approach to their investments advises Peter Hicks