Retirement

POSITIVE Solutions chairman David Harrison has lambasted the industry for allowing life and pensions companies to bolster weak and failing distribution firms, thereby delaying the market's progress to a more efficient model.

MEMBERS of pension plans linked to 34 Skandia SSAS schemes are considering leaving after the company slapped a £1,750 increase on its annual charges.

It will not be "inappropriate" to use taxpayers' money for the development of personal accounts policy, says James Purnell, Minister for Pensions Reform.

HM Revenue & Customs have finally published updated guidance on the position of tax relief relating to employer contributions into pensions, confirming the 'wholly & exclusively' rule will only be applied in limited circumstances.

A TOTAL of 16 million members in private occupational schemes could be entitled to more than 25pc tax-free cash before initiating any pension transfer, according to Skandia.

Provision remains a key driver of business for financial advisers, according to research from Rowanmore Pensions.

Let's face it - advising someone on whether they should transfer their deferred benefits out of a final salary scheme is one of the trickiest things for pensions advisers.

The treating customers fairly principle requires firms to identify all customers who may have been missold or received poor service and invite them to claim for compensation, says law firm Reynolds Porter Chamberlain.

Prudential has launched the first with-profits annuity which can be purchased with protected rights funds, following negotiations with the Department for Work and Pensions.

Scottish Life, the pensions specialist arm of the Royal London Group, is launching a Self Invested Personal Pension (SIPP) product in December. The new SIPP facilities are available from "Pension Portfolio", the recently rebranded extension of Scottish...