pensions

Comments made by John McFall, in the House of Commons last week, on the problems with a commission-based model has provoked a flurry of responses from IFAs.

Choosing to take tax free cash from a final salary pension scheme, could be one of the worst decisions people can make, according to the latest A-Day webcast from Standard Life.

Self Invested Personal Pensions (Sipps) are likely to increase in popularity up to and beyond A-Day because of the flexibility of investment options, claims new research from Defaqto.

John McFall, chairman of the Treasury Select Committee, has attacked commission-based payments attached to product sales, claiming they create an "inherent conflict of interest" for intermediaries.

Virgin Money has highlighted the reality of living on the state pension, by revealing pensioners spend less per week on their shopping, than most people spend on dining out.

Industry bodies have welcomed the Treasury's decision to allow a wider net of firms to offer pension tax-wrapper products to consumers from 2007, but it is predicted consumers are still more likely to hold pensions through brand-name life companies.

Self Invested Personal Pensions (Sipps) and other member directed pensions will be able to invest in residential property after A-Day through Real Estate Investment Trusts (Reits).

The Treasury has announced it will go ahead with option three of the regulation of personal pensions in particular Self-Invested Personal Pensions (Sipps), in its response to a consultation published last year.

Zurich Assurance and Prudential Retirement Income have announced they will team up in an annuity partnership agreement.

The Chancellor's reversal on the proposed Inheritance Tax (IHT) rules for those aged under 75 has been welcomed from most of the industry.