Regulation

A panel of pension experts has been appointed to carry out the audit of high cost and legacy defined contribution (DC) workplace schemes, prompted by last year's Office of Fair Trading (OFT) investigation.

The transition management industry does not warrant large-scale Financial Conduct Authority (FCA) intervention despite State Street being fined almost £23m for overcharging clients.

Labour has vowed to push through a pension charge cap and make using an annuity broker mandatory should it win the next general election.

Everything you need to know about transferring pensions abraod

Hundreds of millions of pounds of retirement income is being lost as retirees remain stuck in the ‘clearly broken' internal annuity market, MGM Advantage has said.

Senior pension industry figures and high level regulators have formed a group dedicated to halting the proliferation of pension liberation.

FSCS

The Financial Ombudsman Service (FOS) has said it will take into account good practice at the time an annuity was sold when judging complaints as it highlighted the variety of grievances it handles.

ANNUITIES

The Equitable Life Payment Scheme (ELPS) has paid out £816m to 717,600 policyholders.