Retirement

The Department for Work and Pensions has started advertising for the chief executive of the personal accounts delivery authority, with the expectation someone will be in place by the summer.

One in five advisers believe the 'pensions crisis' has got worse since the introduction of pensions simplification in April last year.

Annual savings of more than £1bn resulting from the abolition of contracting-out should be used to encourage private saving, rather than subsumed into general government revenues, says the Association of British Insurers.

MORE than one third of financial advisers have seen an upturn in pension business since ‘A Day', according to a new survey commissioned by Investec.

From October pension schemes will have to file certain information electronically, as HM Revenue & Customs says it will reject any paper returns received after the deadline.

CONSUMERS are ignoring advice from IFAs about whether SIPPs are suitable for them, according to tax specialist and accountancy firm Vantis.

In the absence of the UK Parliament providing pensions news, attention turns to the European Parliament and the Committee of Inquiry into the collapse of Equitable Life.

Vantis claims self -invested personal pensions could lead to mis-buying rather than become the next mis-selling scandal predicted by some IFAs.

A draft report criticising the ‘light touch' UK regulatory regime over the Equitable Life collapse is being undermined by a lack of support from Labour Committee members, claims a Conservative MEP.

SIPP providers have cut fees by 13pc in the last year because of increasing competition from rivals, data research company Defaqto said.