The government is on track to begin paying compensation to Equitable Life victims before the end of June, financial secretary to the Treasury Mark Hoban confirms.

The government's probe into allowing early access was a political rather than practical move and the Treasury knew the idea would be rejected, a lawyer claims.

HMRC has backtracked on rules that could have left some investors trapped in poor personal pensions, in response to pressure from pension providers.

The proposed changes to pension input periods are "appallingly drafted" and will lead to further confusion over pension tax, experts have warned.

Lloyds Banking Group managing director Phil Loney has been appointed group chief executive of Royal London.

Equitable Life will give policyholders who leave the society an enhancement to their with-profits payment equivalent to 12.5% of their policy value.

Employee benefit consultants will face a variety of problems if the government merges income tax and National Insurance, experts say.

Chancellor George Osborne confirmed the government will implement a single-tier state pension.

The government will consult on merging the operation of National Insurance and income tax but pensioners will not pay more tax as a result, George Osborne has announced.

There is "no overriding reason" why a merger of National Insurance and income tax should not go ahead, a consultant says.