pensions

The Conservatives and the Liberal Democrats have attacked the government for giving out mixed messages over the role of advice in pensions.

The Association of British Insurers (ABI) has admitted the costs of the National Pension Savings Scheme (NPSS) or any alternative can only be reduced by removing the need for large upfront commissions paid to advisers.

PENSIONS MINISTER Stephen Timms yesterday confirmed there was no regret in the Government's decision to tax company pension schemes to the tune of £5bn a year, reports The Scotsman .

Britain is leading Europe in retirement planning, with a low starting age for saving and a higher proportion of workers seeking financial advice, claims AXA.

Removing the RU64 rule and introducing a National Pension Savings Scheme (NPSS) type model into the pensions market could lead to "mis-selling on a significant scale" , according to the Financial Services Consumer Panel.

UP TO 2,000 more workers at the Abbey banking group will be made redundant on top of the 4,000 who have already gone, its Spanish owners said yesterday, reports The Scotsman .

Members of the National Association of Pension Funds (NAPF) will now have access to a new mediation service to settle disputes.

The comments made by John Hutton, secretary of state for work and pensions, have provoked a flurry of responses from IFAs.

Proposals for the funding of pension scheme deficits could cost employers up to £27bn, claims research from the Association of Consulting Actuaries (ACA).

IFAonline is launching an exciting new service next week which gives you the chance to put questions to minister for pension reform Stephen Timms MP.