Prudential has sold £12bn in annuity assets to reinsurance business Rothesay Life as part of its M&G demerger announced today.
A ban on pension cold-calling will be put into law by June this year after the government introduced amendments to the Financial Guidance and Claims Bill.
New regulatory rules which require providers and advisers to produce annuity illustrations will not solve the problem of consumer detriment as they are "fundamentally" flawed, according to Retirement Advantage.
Plans to invest more than £3bn in strategic initiatives
Budget papers have confirmed the lifetime allowance (LTA) for pensions will increase to £1,030,000 for the tax year 2018/19.
Advice and guidance is not enough
Total payouts in the first year of pension freedom reached £8.2bn, according to data from the Association of British Insurers (ABI).
'The 2017 review cannot be ducked'
The method for calculating pension transfer redress following unsuitable advice looks set to be overhauled by the Financial Conduct Authority (FCA) later this year.
Pensions policy is extremely important
Stephen Crabb quit the cabinet
2019 is 'definitely doable'
Pension savers may miss out on thousands of pounds in tax relief due to confusion around the annual allowance taper rules implemented earlier this month.
The Treasury will legislate to cap excessive early exit charges levied on savers using pension freedom, it has confirmed.
Just one in three people accessing their pension pots last summer used them to provide some kind of retirement income, according to figures from the Financial Conduct Authority.
People drawing retirement income from annuities will be able to sell their contracts from 6 April 2017, the government has confirmed.
Savers in Zurich corporate pension schemes will be able to access non-advised drawdown from the provider.
Statement brings 'clarity' to the current situation
Pension saving 'is good for you'
DB schemes take 'up to three months' to respond
Four out of five cash lump sums paid out to under 65s
Providers will not have to apply the ‘second line of defence' risk warning procedure to pension pots worth £10,000 or under, the Financial Conduct Authority (FCA) has said.
The Financial Conduct Authority (FCA) has revamped its at-retirement rules as a result of pensions freedom and choice reforms which opened up the retirement income market.
Toby Strauss, the chief executive of Scottish Widows, is to exit the group after four years.
Whatever the outcome of the tax relief green paper the government should use legislation to enforce a set period of stability for UK pensions, Neil MacGillivray has said.
Fraudsters targeting pension pots in the wake of freedom and choice reforms are increasingly linking their efforts to investment scams such as fine wines and overseas property, Citizens Advice has warned.
A major review into consumer access to the financial advice market has been launched by HM Treasury and the Financial Conduct Authority (FCA).
Alan Higham, Fidelity Worldwide Investment retirement director, is to leave the business after 18 months.
Consumer group Which? wants the Financial Conduct Authority (FCA) to take action to simplify drawdown charges to make pensions freedom and choice retirement income options easier to understand.
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.
Scrapping salary sacrifice, rumoured to be part of the 8 July Budget, would do more harm than good but is likely to be high up on the Chancellor's agenda, consultants believe.
Longevity assessment specialist MorganAsh plans to operate a 'central annuity bureau' in the second-hand annuity market.
Scrapping salary sacrifice, rumoured to be part of the 8 July Budget, would do more harm than good but is likely to be high up on the Chancellor's agenda, providers have said.
Standard Life chief executive David Nish is to step down after running the provider for six years.
The danger of consumers falling into non-regulated financial advice is increasing and the government must act to increase protection for pensions freedom savers, the Personal Finance Society has said.
New pensions minister Ros Altmann must continue with the package of bold reforms that her predecessor began and focus on encouraging a "rebirth of savings culture" in the UK, Michael Johnson has said.
The Financial Services Compensation Scheme has slapped a £20m interim levy on life and pensions intermediaries as it deals with "bad" self-invested personal pension (SIPP) advice.
The government should look into the glaring inequality in the tax system that favours defined benefit (DB) pension schemes over defined contribution (DC), Alan Higham has said.
Chancellor George Osborne will further relax pension rules in his Budget on Wednesday to allow the sale of annuity contracts.
Increased consumer choice under pensions freedom coupled with greater potential fraud risk has increased the argument for a single pensions regulator, MPs have 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.
The UK will become a pensions transfer ‘haven' for European Union citizens once freedom and choice comes into effect, a top pensions lawyer has said.
Clients looking to transfer out of defined benefit (DB) pension schemes could struggle to find willing advisers and providers to facilitate the shift, leaving them at greater risk of falling victim to fraudsters, Neil MacGillivray has warned.
The Budget reform package coupled with generation Y's complete disengagement from traditional retirement saving has effectively killed pensions in their current form, according to Michael Johnson.
Just Retirement is to launch a set of products aimed at Middle Britain retirees offering ‘mix and match' options for retirement income.
George Osborne's pensions freedom package, due to come into force in April, is at risk of becoming an "infamous example of political bungling" unless advice concerns are addressed, Phil Loney has said.
A Labour peer has attacked the annuity market, claiming it "plays fast and loose" with the regulatory framework.
The brand name for the guidance guarantee has been unveiled as ‘Pension wise - your money your choice'.