Pensions

Saga and Tilney Bestinvest are to launch a joint venture offering investment and financial planning services to the UK's over 50s.

Seven out of ten defined contribution (DC) pot holders aged over 55 would prefer pensions to deliver a guaranteed income for life, according to research published by the International Longevity Centre-UK (ILC-UK).

Steve Webb's pot follows member policy will initially be rolled out on an opt-in basis and be limited to a selection of pension schemes, the minister has said.

Advisory firms will expand while advisers who have left the industry may return to cope with an expected rising demand for retirement advice from April, pensions minister Steve Webb has said.

Additional safeguards should be placed on pension freedoms to ensure people do not burn through their pension pots in the first years of retirement or get caught out under tax rules, Age UK has said.

The brand name for the guidance guarantee has been unveiled as ‘Pension wise - your money your choice'.

The Pensions Ombudsman (PO) has awarded a pension fund member £500 after he suffered "a loss of expectation" over the amount of his pension.

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