Pension freedom

Chancellor George Osborne will further relax pension rules in his Budget on Wednesday to allow the sale of annuity contracts.

Retirement advice firm Intelligent Pensions has launched a fixed low-cost drawdown plan ahead of pensions freedom on 6 April.

It’s time for a rethink on DB pension transfer advice

Controversial proposals to allow existing pensioners to sell their annuities for cash - and insurers to compete for the contracts - are to be discussed by ministers this week ahead of the 18 March Budget, according to reports.

Consumers must accept responsibility for their decisions in retirement when the new flexibility rules come into force in April, Financial Conduct Authority (FCA) chief executive Martin Wheatley has said.

One in five of those retiring in the coming year have no idea how their pension withdrawals will be taxed, Fidelity research has found.

Increased consumer choice under pensions freedom coupled with greater potential fraud risk has boosted the argument for a single pensions regulator, MPs have said.

A drawdown charge cap should be placed on sales to provider's existing customers to ensure people are not sold inappropriate products after pensions freedom comes into effect, Which? has said.

Standard Life will scrap charges linked to its flexible drawdown product in readiness for pensions freedom from 6 April.

Retirement Planner is hosting its third breakfast briefing on 26 March looking at the options and opportunities pensions freedom presents for advisers.