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The state pension could be lifted to a £140 per week payment with no means testing, according to new proposals.

Commercial secretary Lord Sassoon has been told to take steps to improve consumer access to the open market option (OMO) and intervene on poor annuity rates.

Iain Duncan Smith caused a mini-storm last night after saying the unemployed should "get on a bus" to find a job.

Around three-quarters of retirees bought financial products via a bank adviser, with only 20% using an IFA, according to AXA's Retirement Scope report.

Retirement solutions provider Partnership has sold online advice service Annuity Direct to Retirement Angels for an undisclosed sum.

Just Retirement's group sales hit £1bn for the first time during the year ending June 30 2010, which is a 33% year-on-year increase.

Martin Tilley, pension consultant at Dentons Pension Management, has hit out at rival James Hay for providing a poor deal for customers on its SIPP cash accounts.

Details of the death of David Seaton, the founder of Rowanmoor Pensions, were revealed in an inquest yesterday.

Conventional annuity rates have fallen 6.98% while enhanced rates have dropped by 5.32% since June 2009, according to figures from MGM Advantage.

Fewer than one in five retired people feel it is their responsibility to leave money to their children, according to a study from Friends Provident.