Steve Webb

The new Pension Wise service is being tested ahead of launch to ensure it meets any potential demand surges, according to pensions minister Steve Webb.

There are still too many people in financial services who think they can "keep their customers where they want them" by quietly carrying on with old-style practices, Pensions minister Steve Webb has said.

Steve Webb's pot follows member policy will initially be rolled out on an opt-in basis and be limited to a selection of pension schemes, the minister has said.

Advisory firms will expand while advisers who have left the industry may return to cope with an expected rising demand for retirement advice from April, pensions minister Steve Webb has said.

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Steve Webb remains "open minded but sceptical" about private income protection insurers becoming involved in the state welfare system.

The freedom to sell your annuity (read: The freedom to get screwed)

Steve Webb's plan to extend pension freedoms to all retirees, creating a market for annuity resales, is well-meaning but unlikely to work in practice, Fidelity retirement director Alan Higham has said.

Retirees who had already purchased an annuity may be able to benefit from the pension freedoms announced at last year's Budget by selling theirs to the highest bidder.