Only Friends Life has confirmed it will reduce all member charges to active rate ahead of active member discount ban.
Results of guidance pilot will feed into the FCA’s consultation on retirement guidance.
Steve Webb says giving people an indication of how long they will live at retirement will help them make better financial decisions.
The comparison tool will be free to advisers and sold to providers.
The charge cap is good news for pension savers but a failure to get employers to engage with auto-enrolment is putting the whole project at risk.
The challenge is finding a way of explaining the complex options for many people who still want an income in retirement.
New Class 3A National Insurance contributions appear to be odds with Government’s annuities claims.
It would be unreasonable and counter-productive to prevent pension companies from speaking to savers.
The furore over the FCA review of zombie fund charges is a red herring, the real issues is the appalling standards of service.
The service won’t be free, may not be impartial, probably won’t be face-to-face and definitely won’t be advice.
Call follows announcement that from April next year anyone who is aged 55 or over will be able to take their entire pension fund as cash.
Decision comes in response to tougher Client Money and Asset Return regulations introduced by the regulator in 2011.
Pre-tax profits up from £2.52m to £2.86m during 2013.
Suffolk Life says trust will help advisers and investors with inheritance tax planning.
Pensions minister said the Government will publish a consultation on the best way to ensure people are not auto-enrolled into higher charging schemes.
Chief executive Joanne Segars has hinted the trade body could move into the annuity broking market
The pensions industry has come under growing pressure from politicians and industry commentators.
Govt charge cap proposals
Government is also capping charges on auto-enrolment default funds at 0.75 per cent from April 2015.
Pensions minister Steve Webb confirms auto-enrolment charge cap will be in place before the general election.
Pensions minister Steve Webb will make a statement in the House of Commons later today detailing minimum quality standards for auto-enrolment.
The Big Interview
- pause slideshow
To help you to keep up with the fundamentals of tax, retirement and financial planning, try answering these questions.
The Chancellor’s Budget speech has been greeted as a nail in the coffin of unpopular and poor value annuities but there is no ready replacement for the one product that can manage the complicated issue of longevity risk.
Cazalet Consulting chief executive Ned Cazalet examines how the financial services landscape has been changed in the wake of the Budget.
People can hold strange things in their Sipps but is this dying out due to caution among providers?