Tom McPhail

The Treasury will net an extra £700m in tax this year as a result of the pensions freedom and choice reforms, Hargreaves Lansdown has projected.

The lifetime allowance "has outlived its usefulness" and should be scrapped as part of a wider overhaul of pension taxation, Tom McPhail has 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.

Hargreaves Lansdown has unveiled its low-cost drawdown plan ahead of 6 April which has no set-up fees or income withdrawal charges.

Retirees will have little comeback if they receive poor guidance outside of the Treasury's Pension Wise service, lawyers have warned.

A substantial minority of defined benefit (DB) pension scheme members are intent on transferring out to take advantage of pensions freedom, research has found.

Providers must consider having a default option for retirees entering decumulation, according to speakers at a National Association of Pension Funds (NAPF) seminar.

Pensions experts have called for the government to help savers access their pensions tax-free to fund long-term care.

Up to 200,000 people will cash in their pension next year, netting the Treasury an additional £1.6bn in tax, according to research from Hargreaves Lansdown.

An eight day turnaround for pension transfers should become the industry standard, the TISA Exchange (TeX) organisation has said.