Retirement

The impact of means-testing on people saving in personal accounts might have been ‘underestimated', leading to potential 'mis-selling', warns the Association of Consulting Actuaries.

The Treasury has defended Gordon Brown's decision to remove dividend tax credits in 1997, calling it an "anomaly" in the tax system which "distorted business decisions and discouraged long-term investment".

It seems there are few in the industry willing to talk about it but a major regulatory deadline passed last Friday: firms' implementation date for the treating customers fairly (TCF) regime.

The decision to remove tax credits on the payment of dividends to pension schemes was ‘unhelpful' but only one of several reasons why workplace pensions have come under increasing pressure, warns the National Association of Pension Funds.

The FTSE 100 has ended the day with a slight gain of 7.5 points, or 0.12%, to 6,315.5, as a continued decline among miners failed to keep the index in the red.

Advisers should focus on alternatives to annuities to help high-net-worth clients maximise their retirement income, claims Fidelity International.

Over half the working population are still unaware of the tax advantages to saving in a pension, claims B&CE Benefit Schemes.

Although pension deficits have now decreased to £26bn, the accounting measurement Financial Reporting Standard 17 (FRS17) is hiding the underlying volatility of scheme deficits, claims Aon Consulting.

Annuity rates have fallen significantly over the last five years, making it even more important individuals make good use of the Open Market Option.

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