Retirement

An EU-wide plan to improve the sustainability and equality of pension schemes has been given the green light.

Tony Slocombe, of Heartwood Wealth Management, says pensions alone will not be enough to fund retirement.

Former TSC chairman Lord McFall will direct an independent inquiry into the failings of the current private pension system, as new figures show there has been the equivalent of one piece of fresh pension legislation every week since 1995.

Mike Morrison, Axa Wealth's head of pensions development, offers his views on the government's far-reaching reforms of the retirement market.

More than one in five people retiring this year will still have debts according to the Prudential Class of 2011 study.

More than one in five people retiring this year will still owe on average £33,100, Prudential research found.

The government will today confirm the scrapping of the default retirement age (DRA) from April, meaning employers will no longer be able to dismiss staff when they turn 65.

Protection advice drove only 4% of people who sought out an IFA last year, according to results from Unbiased.

Intelligent Pensions (IP) is offering non-advisory ‘lay advocate' roles to IFAs considering exiting the industry due to the pressure of the RDR.

Inheritance Tax (IHT) is unpopular and ineffective and should be replaced with a new capital receipts tax, the Institute for Public Policy Research (IPPR) says.