Pension freedom

Time flies when you’re having fun

The industry has welcomed the government's proposal to allow consumers to sell on their existing annuities but has clashed over whether advice should be mandatory for those wanting to sell.

Mandatory advice on pension freedom cases with guaranteed annuity rates worth more than £30,000 should be scrapped and replaced with a ‘customer control' mechanism delivered through the Pension Wise service, the Association of British Insurers (ABI) has...

Live long and prosper? Longevity risk and the role of advice

We're in a brave new pensions world

The creation of a second-hand annuity market is guaranteed to happen, according to former pensions minister Steve Webb, who suggested the Treasury has already ‘banked' the cash it expects to receive from the policy.

The retirement reforms resemble a "botched DIY job" according to the Trades Union Congress (TUC), as the government comes under fresh attack for its implementation of the pension ‘freedoms'.

The government is to examine whether savers looking to take advantage of the pension 'freedoms' introduced in April face "excessive" early exit charges.

The Financial Conduct Authority (FCA) has highlighted shortcomings in the way some advisers have handled 'insistent' clients in the past, as examples of what today's advisers should steer clear of.

There were more than 750 reported cases of pension liberation fraud last year, an increase on the previous 12 months, according to the latest figures.