Amendments to the Pension Schemes Bill passed by peers in the House of Lords last night will see a wide-ranging suite of reforms for the pensions industry draw another step closer.
'Should cover emotional wellbeing'
'Not a holistic service'
A Labour peer has attacked the annuity market, claiming it "plays fast and loose" with the regulatory framework.
The regulator's ‘second line of defence' for retirees will be extended to cover trust-based pension scheme members as well those in contract-based arrangements, peers have heard.
Proposals for a financial transaction tax are ‘significantly detrimental to the UK's interest', according to a Lords committee.
Government must work with financial services to ensure housing equity can be released "without excessive charges or risk" and improve consumer confidence, a House of Lords committee has urged.