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It drew a gasp from the room full of financial advisers when it was shown to them yesterday.

The FSA has confirmed it has today executed search warrants on the Castlestone Management's premises in London and Chichester, as a fourth member of staff leaves the group.

This week's Retirement Planner quick-fire poll asks: Do you feel the government's plans for public sector pension reform are sensible?

The Workplace Retirement Income Commission (WRIC) will deliver its final report four months early.

The pensions advice community has rejected calls for the outright banning of some trail commission payments.

The Treasury today set out the government's progress on public service pension reform - announcing consultations and plans for talks with unions.

The government is considering phasing in the 3.2 percentage point increase in public sector workers' pension contributions over three years, a slower pace than previously planned.

MPs pensions will be subject to the same reforms as the wider public sector and a new scheme will be launched in 2015, the leader of the Commons said.

Replacing tax relief on pensions with a matched savings scheme and setting up a "no-lose lottery" could help plug Britain's savings gap, a think tank said.

The low charges set by the National Employment Savings Trust (NEST) will set a benchmark with which pension providers will have to compete, Legal & General (L&G) said.