'Current system not working'
Members of the work and pensions select committee are to launch an inquiry into advice and guidance available to retirees following pensions freedom to ensure people are not "ripped off" when accessing their pots.
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 Financial Conduct Authority (FCA) has discovered poor practice on all annuity price comparison websites, with 12 out of 13 found to have breached TCF rules.
The conduct of pension providers' annuity sales teams will form a large part of the Financial Conduct Authority's (FCA's) continuing investigation into the retirement income market.
Some 80% of retirees who stick with their pension provider when they buy an annuity could get a better deal elsewhere, pointing to a huge failure in the open market option, the Financial Conduct Authority (FCA) has found.
Four men have been banned from working in financial services over their ‘disgraceful' behaviour in relation to occupation pensions which saw them net £4m in unnecessary commission.
Charges on a government-backed UK infrastructure vehicle owned and run by UK pension funds will be capped at 0.5%, the Treasury has confirmed.